I especially liked the ironic twist in the episode. Originally, Trixie used small stage magic tricks to clever effect, then Twilight used big magic to save the day. This time, Trixie had big magic, but Twilight used small tricks for clever effects.
The setting and backgrounds are really well done, diggin those bigtime. Twilight does look very horsey though, in contrast to the show's marshmellowy ponies. Not that that's a bad thing, it's more of a style choice.