I just completed this last night and I absolutely love it to bits! It turned out much better than I expected and I couldn't wait to set it but just wanted to quickly take a picture to see how that came out. As you can see, I under-exposed the shot (that makes me sound like such a pro but I'm really only a point-and-shoot photographer and not a very good one at that) and the sheen shows up beautifully. It looks even more amazing in real life.
The smaller beads would be set as earrings and I totally suggest that the bigger one be set as a ring.