I love the first 30 seconds of Moonlight Flare! But after that, it kind of loses its harmonic and melodic "flare". Memory Waltz kind of carries on with that same lack of "flare".
I think my biggest suggestion to you would be to play around with more interesting rhythms and more vibrant melodies/harmonies. The quarter notes and dotted half notes (when in 3/4) get wayyy too redundant, especially when the bass line keeps repeating itself.
But the first half-minute of Moonlight Flare was, albeit simple, very promising. Work in that vein, but add more rhythmic/melodic/harmonic intricacies to spice things up. But it seems like you guys are very new to composing, so these are a great start. =]