Looks pretty good as far as editing goes, I only see a few small things like at 1:10 you switch to the ambassador, but in the next cut you're using your knife again. You could have just cut the bit out where you switch to the ambassador, and it would seem more natural. Again, minor, but it does look pretty good as far as editing, I don't see any other "mistakes".
As a suggestion, you might want to try picking an instrumental song with a strong baseline, and sync the transitions to the base line. So as the music goes: bum, bum BUM, your video transitions right on the strongest beat or the "BUM"