There's too much embellishment, I feel - a lot of these looks seem to drown the models, literally, in the case of that one sack-like black ruffled belted dress. The colors seem a little all over the place, the transition from the closed jewel tones to the brighter ones at the end was a little jarring.
Most importantly, though, I can see the improvement here. I also liked the previous collection better, but this one seems to show a desire for improvement and aesthetic development, which I totally admire. The tailored looks are delicious, both women's and men's, and the simpler dresses also work.
Also, the Moon River soundtrack really was excellent, as an user already pointed out. Very beautiful, eerie, and almost emotional.