It sounds like it may be the right one for colored pencils. I found that it would only take 3 or 4 layers so I had to plan my layers. The plus side though is that you can add color on both sides since it is transparent so that gives you 8 layers to work with. Have fun with it if you decide to give it a try.
Here are a couple of colored pencil drawings on I did on duralar.
View attachment 45421
View attachment 45422