The slightly ruffled shoulder pads looks fashionable, it's OK as long as they are not exaggerated IMO, otherwise the suit would look too plain. YSL had also used the applications for the skirts, it adds flavor. Letizia has had so many plain suits from Varela, some fashionable details are the plus, at least it shows some effort from Varela.
The gathered shoulders gives it a stylish and feminine look. I like the whole outfit. I do agree the shoes are wrong. She should've worn nude toned (neutral) shoes. Whenever you have a different coloured outfit that's hard to match the safe bet is nude shoes. Come to think of it I don't think I've ever seen Letizia wear nude coloured shoes. Perhaps she'll get some for Christmas.