This is nice in some aspects, though, a few things could have made this coloring look nicer. First, the skin tone. I actually like this look, because obviously you read into what The_Suit wrote for this character's background story. The pale color you used oon his face was nice, but as already pointed out, the skin tone on his hand is a bit different shade. The only way something like that would be good, would be if proper lighting effects were used. I don't really see any sign that you used lighting or shadows on the skin, so if that is the case, it should all be the same general tone. You did use some amount of lighting though, which is pretty decent I suppose. His right shoulder was actually pretty well done in that department. Though, I'd expect to see more of a shadowy look on the opposite shoulder, given its position. Same with the legs, plus you must take into account that the cloak will be blocking alot of that light, and instead casting shadows. The cloak itself could have used some lighting effects, as the color looks quite dull the way it is.
I think you 'changed' the eyes a bit. Go back and look at the original drawing, the eyes are not wide open as you have colored them to be. The character should be giving more of a 'squinted' look, in a way. The part you made the eye should have been just below the eye, if you look closely the eye itself (the left eye) is just above it. I suppose you cuold have made the mistake of thinking what you colored was indeed the eye, but really it looks like you added the pupils and iris yourself.
The way you colored the cloak is sort of odd. You did try to add a 'rise' effect to it, to help give it a bit of depth, but you didn't really follow The_Suit's original lines very well. It looks flat because you can still se the dark lines, which were meant to be the creases. You covered most of them, but there a few noticable lines without that effect you gave to the rest. That effect itself looks a bit 'fat' I believe. In some areas you tried to add the effect where a 'crease' wasn't even intended to be, which gives it an odd look, and the effect is overused in a few spots as well.
The actual colors you chose aren't bad overall, the red is sort of like a blood red, which is pretty nice, usually I prefer darker reds but in this case it doesn't look so bad. The accessories are pretty cool as well, they have a good 'worn' feel to them. You did put somewhat off an accent on the stiches, which is one of the parts about this drawing I originally liked. Though, again the color you used make a few of the stitch lines look 'fat' in a way. The skeleton is sort of ignored again, besides the lighting you used on it, I would have rather seen the details captured a bit better on it. And as for the sword, its decent, but the 'dark blade' looks a bit weird. Not that you couldn't color it that way techinically, but it needs more 'shine' to give it a metallic feel. Anyhow, this is pretty cool in some ways, but a few of the effects you used weren't the best. Its a nice starting idea though.
