A very good idea, taking old black-and-white photographs and touching them up with color. The different coats of color on the Newgrounds preloader was an especially nice touch since it was not only appealing to look at but also corresponded to the overall theme of this submission.
I particularly like how we see snippets of the non-edited black-and-white photographs at the beginning and how well it synchronizes with the song rather than throwing some random photograph in there and coloring it. You also chose some nice photographs to color.
All really detailed, though I suspect that the clouds in one of those images was just a tinted traced bitmap but I won't expect anybody to actually trace through them manually, especially since that would be very tasking.
A lot of nice details such as the multi-colored fish in the beginning and the faded previous in-betweens of it. Speaking of details, that was some fantastic frame-by-frame work you did on the paper.
Too bad the song was heavily compressed and that there was such an abrupt ending to a good submission like this.
Really good work.