Is it just me, or is the colour seriously off in the colour version? The greens in the foreground seem unnatural, as do the yellows on the mountains.
In both versions, there are halos around buildings and mountains, ruining those parts of the image. It looks like there's been too much local contrast adjustment, or a similar technique. It looks bad in the size presented, I can only imagine how noticeable it would be in a print. You need to tone down these adjustments, and try to achieve a contrast enhancing effect without them.
The red filter simulation seems a bit too dark to me, so perhaps it would work to use a milder version of that effect, with the added benefit of achieving what you might have been aiming for in the local contrast adjustments.
The foreground has a problem; its fairly busy, yet there's nothing that's really there to look at. Cropping the foreground would be my regular suggestion, but then the image becomes noticeably imbalanced.
Here's a suggestion for a different crop and different use of a red filter:
I took the B&W version, created a new adjustment layer, red photo filter with density 57%. Later, I adjusted the opacity to 71% to tone down the effect.
Then I added a hue/saturation layer to desaturate, in order to keep some control over the process.
While this isn't entirely pleasing to me, I think it's a step in the right direction, especially if you get rid of the halos first.
Sidenote: Why is it that nobody else seems to notice such blindingly obvious halos? They never seem to be getting any comments in other user critiques, either. Are they too used to seeing and ignoring such artifacts?