"Any thoughts on how to make the crayon "shimmer" and how to make the paper cut outs more animated like in this commercial?"
The "old" way of doing this is to draw 3 or 4 times the same drawing by dand with small variations in line, position and fill strokes. Scan those in and you get 3-4 frames that you can cycle by creating a loop. Use puppet tool to animate.
Tudor "Ted" Jelescu
Senior Compositor/VFX Artist