Really like both, but the warm one does seem to add dimension to the background.

Nice! you are making quick progress so I'd say you'll be making it in time for sure.
I personally prefer her with uncovered shoulders, and maybe with the straps at the back.
Keep it up!

Looks great! Nothing to add to that!
Just gonna letting you continue detail it :3

I think you need to draw in more detail the armor in the foreground. And some kind of magic in the girl hand.

3 (like the golden ornament crown around her head) or 5 maybe ?
Honestly whatever you choose it will be great, no doubt !

Agreed with @Viktoriya about magic in her hand ^^

This looks amazing I really like the whole thing, you could spend some more time on detailing or refining some brush strokes (magic swirl i.e.) That is if you think you can/should spend more time on the piece.

Keep it up!

This looks a lot better than any old concept sheet. the painterly style to your colors just makes your idea more visibly tangible. They stated in their brief to include as much of your creative process as possible as well so you can always include some small images of your previous samples (those at the beginning of your blog). Kudos!
-Joel