[-]The icon does not have the required minimal formats (an active one and the corresponding disabled one).
[+]The files work correctly in W3V.
The BTN image presents a decent amount of design potential.
1. Add a proper BTN-specific metal border.
You can use these locations as sources of more info: W3IR and Icon Layer for Photoshop.
2. While the BTN seems decent enough as design, you should smoothen the DISBTN image, as it looks burnt and pixelized (too sharp).
3. The glow around the item should be more like a glowing cloud rather than just a coloured border. Use the Photoshop Outer glow but customize it, make it look like flames or something influenced by the wind.
If you fix these in a timely manner, I think it stands quite a good chance to be approved. Otherwise, it has "Ignore" written all over it.
Don't take it wrong. You show potential, but you need to tweak it up before it gets approved.Don't give up!