The square is a blending option i believe satin or something right?
i would try to get rid of that. It doesn't blend well and really distracts my eye away from the render.

text wise i think you should read my tut. It's located in my sig if you click wanna learn text.
Your text should be blue if u have a red sig. Also try to stay away form blending options, such as bevel and emboss. The blending you have is nice. And the Bg isn't bad with the exception of the square thing.