I just read it, and it is really really good. The story was amazing, and the art didn't have too many "objective" flaws, that is to say most of the things I'm about to say I don't like about it are pretty much up to opinion. But I'm trying to stick to the opinion that I think most manga readers would agree with.
I don't know why it didn't win the award, but I'll try to see what I didn't like so maybe you'll get a new perspective. Personally, I agree with Googlez that the art is just a bit too Bleach. Except for the eyes, but I'll get back to that in a second. There's some parts that bug me a little bit, like in here
http://dreamcatcherz.webege.com/A-si...pter_0/12.html
I can't tell if Hazel is smiling or not, and if she wasn't smiling -- WHY not? Even when he says he'll be cheering her on. I think it's something to do with the eye brows, but your characters sometimes look too upset or bothered, even when they're smiling.
Right, so it feels a bit like everything except the eyes was heavily influenced by Bleach. And the eyes themselves? Well, I don't know if you sent the story in to a manga contest, but I think one of the problems might have been that the eyes aren't manga enough. Especially if you sent it in to a contest in Japan, which probably already makes them biased towards thinking your work is western. Another thing is the hair, which is a bit too realistic. That's it, I guess. I think the eyes and the hair are a bit too realistic for manga. I know you wanted a story grounded in reality, but I think some things that look nice on real people look weird on manga characters, like short short hair that's unnoticeable on the back and spiky on the front (Pierrot's, I mean.)
As for the story, it was really interesting and believable. I don't know about melodramatic, I thought it was great. The characters involved clearly feel strongly about this concept, it might not be too relevant to some people, but these characters are feeling it and I think the feeling was transferred to the reader greatly. Maybe the reason I didn't feel it was forced (unlike Googlez) is that I agree with the characters on most of what they said, so that might be why. I liked every scene, even being on the train with Hazel felt just like being on the train with a girl you like, so I really think that's a sign you portrayed it right. There were a few things I didn't like, but I liked the vast majority of it, and I liked it a lot.
Overall, I think you did an amazing job and there's very few flaws. The things I listed aren't even necessarily mistakes, I was just trying to get at why the people at the awards might've not liked it.
But it was 45 pages that were all interesting and beautifully drawn -- although I do admit I don't like the style, as was said before -- and they've had an endless amount of effort put into them, so really great job.
Keep it up, I can't wait to see what you do next.