HELP! 2 week seedling, leaves drooping and turning yellow (pics)

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Hi Guys, this is my fist grow and after 5 days without watering I came back to this small plant with it's leaves drooping and turning a pale green / yellow color.

I've just moved it into a bigger pot
Using a multi purpose, moss peat soil
It's 3 inches under one 46 watt cfl and one 23 watt cfl
I'm watering with tap water that I've left stand for a few days
Temp is ok
Fan circulating air in the box
Homemade C02 generator (sugar/yeast mix) pointing near the plant
PH is neutral

Any ideas on what's gone / going wrong or am I just over paranoid....
Lack of Nitrogen maybe?
Is it too small to add nutes?

Any advice would be much appreciated

(I was just after watering when the pics were taken.... soil's not always damp, I leave it dry out between watering)

Cheers

Over watered, not enough air to the root zone, not enough aeration material (like perlite) in that muddy peat soil.

If you need this plant then remove the peat and plant from the planter. VERY carefully remove the peat from around the root of the plant; you don't need to get all of it, just the excess. Mix up a new batch with 1 part perlite for every 2 parts peat. Then replant the seedling. The media you plant in should already be moist.

Allow the new stuff to go nearly completely dry before watering again. Water to saturation with run off. Allow the it to go from basically completely dry to saturated once or twice more to prevent over watering again. This process will take anywhere from 3 to 7 days depending on the health and size of the plant, and you will need to begin feeding it on the first watering after the transplant because it could be another week after that before you can safely feed it again.

Young seedlings need hardly any water at all. There's enough moisture in that planter for another week of evaporation and life probably. Get that aeration going, sphagnum peat just doesn't hold enough air. Also, be mindful of your pH as that stuff can hit inhospitable acidic pH levels.