I saw "Pachelbel's Canon" and just had to listen. ^_^ I play that in my high school band every year at graduation. Such a great song.
And it does sound like it would be good in a graduation scene. Or something academic, like walking around a school. I really like it. I did recognize the repetitiveness after a while, though. Which isn't really a bad thing since it's supposed to be a canon.
You did really good on the layering/overlapping parts. I think a version without so much string would be beter, though. Maybe with some horns, reeds, or bells, just for variety's sake. Canons usually have different instrument groups repeating the melody, instead of like all string, all brass, etc.