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Pestilence deck
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Pestilence in-and-of-itself defeats this deck. Your creatures would still be affected by it and you'd be tapping 1:1 mana to keep up with it with your CoP Black. Personally, I'd dump it ASAP for something else that wouldn't hit you as hard as your opponent. Don't get me wrong, it's a nice enchantment, but a serious double-edged sword unless you have something to effectively counter it with. Other than that, I really like this!
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Why wouldn't protection from black protect the creatures from pestilence damage?
Protection from a color only affects spells and abilities that specifically target that permanent. Since Pestilence affects the board as a whole, protection doesn't work. It's the same concept as a creature having protection from White, and the opposing player uses Wrath of God. The creatures that have the protection are still destroyed.
Pestilence deals damage, damage from black sources is reduced to 0. Wrath of God doesn't deal damage. I haven't found any rulings or errata to back up your claim yet. It is not targeted, so it will try to damage creatures with Protection from Black, but note that Protection from Color immediately reduces all damage of that color to zero, so the damage is prevented before it can actually hurt the creature.