Colored pencils respond well to collage - the acrylic medium and varnish.
Today I discovered the blog site for Elizabeth St. Hilaire Nelson, collage artist. http://elizabethsthilairenelson.blogspot.com/. She describes her art as "painting with paper". I love it! It gives credence to the paper arts. Just like colored pencils - so many people think it's just coloring - like with crayons when we were kids. I shall call it "painting with colored pencils".