Well, generally I can't abide dress codes - too controlling or too vague & confusing. Or both. But this is fairly self-explanatory & fun!! And could cover anything from someone just wearing a bright colour (if they feel a bit cautious), through to a bit of bonkers-ness - because why not?!
I think the sequin dresses are great (love disco balls, being a child of the 70s!) but, as a PP said, they may well be too long for you, even with heels. The jumpsuit I think needs someone with height/long legs to balance out the long sleeve - it will make you look shorter IMO, especially as you'll probably need to have it taken up. (I also think really strong blue-pinks don't suit blondes or paler colouring than that of the two models.)
Is your maximum budget is around £220 (the price of the dresses)? And are you perfectly happy if it's an outfit that you'd hardly ever/never wear again? As (apart from the jumpsuit perhaps) I'm assuming that would be the case with your choices?
I ask, as I always think it's a bit of a pity when people buy something they know they'll only ever wear once. (And yes, I count wedding dresses too!) Would you wear these again or just re-sell? What about a more wearable but still bright & gorgeous dress? Or a suit or separates? Even a sequinned top & skirt could be split & worn as part of more low-key but still going out outfits?