Well, the deck might be good, but I don't like these version of Monarchs.
First of all, I prefer adding more Raiza than Caius. Don't add more Caius it's allure-able.
Thestalos is pointless, remove it and add Card Trooper.
With Monarchs you really need a draw engine or else you'd depend on top-decking Monarchs at the right time. You need more drawing to make your deck faster.
Take out some BoM, and the Foolish Burial. I don't like running Krebons but if you like him keep it. (if not then you don't need the Mind Control)
Add in 1 Mystic Tomato, it's pretty good card and it has just enough targets.
And Monarchs with no Cold Wave or Solemn? ^_-
But let me just post the fixes:
Monsters:
-1 Caius
-2 Rai-Oh(you don't need it)
-1 Thestalos
-2 Krebons
+1 Raiza
+1 Mystic Tomato
+2/3 Dekoichi
Spells:
-1 BoM
-1 Foolish
-1 Teleport
+1 Cold Wave
Traps:
+1 Solemn
+1 Trap Dustshoot(you need it since you have Raiza, you use Raiza on your opponent's DAD for example and then you use Dustshoot to send it to grave. This way you gave your opponent a dead-draw and a -1.
+1 Mind Crush(same as above)
Hmm, I guess that's forty cards