Started by adjusting the Cornell University source background to get the some colors for reference.

Changed Hue/Saturation to a suitable color. Changed Intensity/Contrast, added a glowing layer (the usual; copied layer, guassian blur, layer blending).

The "wand" was cut out (quick mask) from the justified sinners source image. The original diamond was cut out and juvertsons source diamond was added at its place.

I then changed the wand gradiently with hue/saturation to fit the background. The lower part of the wand was desaturated and darkened. Also changed the intensity/contrast.

The diamonds foggy/smokey background was made by using the cloud filter, then cutting out bits with the cloud filter in a quick mask. The result was then twirled and gaussian blurred. To make it more smokey and shape it towards the skull, I freehanded with the smudge tool.

Also added a glowing layer (duplicate, gaussian blur, blend layer) for the diamond.

The colors was then adjusted with hue/saturation and intensity/contrast was changed to better match the background.

The skull was cut out (quick mask) from the contest source image. The stethoscope was removed and the empty space was simply copy/paste/flipped/erased to rebuild the skull.

A copy of the skull was re-sized to use the cloud filter within. In a quick mask, cloud was used again to remove parts of the skull and smoke. Smudge tool was used to make it more smoke like and alive. The contours was erased on the skull to match the smoke layer.

Both layers were changed colors on with hue/saturation, to match the other layers.

The layers were added and some final smaller adjustments were made.