1) None of the text is bevelled.
I didn't think your text was beveled, it's your whold sig border.

2) None of the lighting works if the glass layer isn't there.
I just think you should lighten it up.

4) The Bevell was necessary to create a glaze, otherwise it'd just look flat and matte. Which isn't what I was going for.
Oh yeah sorry I forgot if you get rid of the bevel you need a border. Since your's would look good with out a 1 pxl border try making a thick border about 3 pxls and the right and bottom side a light white and the top and left a light dark since I do like the effect of you bevel on the 2nd a bit.
:P gotta quote myself on that one.