I love the ruby red slippers in the story. I really think I might go with that motif, since they were her vehicle in reaching home again. There's a quote from the movie Juno that ties into this idea, I can't remember exactly how it goes, but something like this: "It always feels good to be home again after you've been somewhere really different for awhile", as she rubs some flowers on her pregnant belly. When I moved back to Minnesota/Wisconsin from Oregon, I felt the way Juno and Dorothy did. So I might steer in that direction just because it's more personal to me.
I think it would be fun to use the counter in the O's as a space for some illustration, I do like the kaleidoscope idea someone suggested in class. As life can be be some times, some things look skewed, dizzy, and unrealistic. Although I was never on acid, when I look back on my life the last two years it is like looking through a kaleidoscope. It surely was a trip.
I like the Monotype Old Style font, it was used in the book. The serifs on the font attract me most, I would like to play more with those.