I think the effect is interesting, but because if your choise of colours and shapes, it feels more like a princes suit up effect then a demon evolving effect.
There is magical fairy magic flowing into a light emiting shape, and when it is finished, flower petals fly out
To help this, try adding darker colours into the effect, maybe add something that reminds one of blood?
Also think about shapes, try making things spiky instead of flowy, harsh instead of soft.
Do keep the aftermath aura though, that adds a very nice touch.