Thanks for providing that album to look through, Sarah-Jane, and especially the link to the tunnel books at the V&A. I've seen artistic book cut-outs like
this before, but it's not quite the same thing, is it? I'd never encountered a tunnel book before but they seem very charming, and it's helpful to have a little more context for you piece. (Getting all the qualifiers out in front, I also have to admit that I have little experience with visual poetry in general.)
All that being said --
Your mock-up is visually intriguing and I think I would enjoy looking through/at it if I could access it in person. I will echo Matt's concern that some of your words are obscured by upper layers, particularly on the pink and burgundy sheets, but it looks like that could be addressed relatively easily with some
adjustments to the text alignment and placement.
I personally like the flat images better and find them easier to read; the composition is really beautiful with the crystal balls and words on top, and the natural imagery wrapping under around the hands. I think they serve your text better. If you do keep on with the tunnel book I suggest including them as well.
How might the experience of reading the cut-outs change if they were put together so that you paged through rather than stretched out? Or if they were more accordion than tunnel?