In your cq:editConfig node add the following property: cq:actions of type String[] then you can define what actions you want to allow, notice this sample value that allows edit, copy, move delete and insert: edit, -, copymove, delete, -, insert, -
Change your Apache Sling Logging Logger Configuration to INFO. or change the log statement line #87 tolog.error("Here in execute method"); to ensure it is getting executed.
Was a component node added to the jcr on that page as a result of dragging the component on to the page? Also, it might be useful to share some details of your component and/or try stripping out most of the logic out to test out a basic component.