Great theme, great variations, and overall a very solid piece. It reminds me a lot of Aspartame.mod. Very well done!

Good use of sound effects, you had some neat ideas. The composition could use some work though. Perhaps try making variations of the main theme and see what you can do with it! I also like how you ended it with the bells, it worked well IMO.
I also think you also could have turned down the background noise on the second verse. The plucking doesn't cut through it as well as the saw wave does, and I think it drowned out your lead.
Anyway, I look forward to seeing what you make in the future!