@figroll: Excellent stuff! Really a step up (hundred steps) from your first sketch imo! I like the 3d-movement in it. Just two personal thoughts. The star in the middle reminds me little of the flag of China

Maybe small modification on colours would fix that. Also for the text, I would not maybe go all black, but just scale up the the colour pattern on the font so that there would be little less colours, fewer colour fields, larger patterns.
Just out of curiosity which program do you use, Adobe Illustrator?