As far as logo designs go, it's really missing out on a lot of the things that make for a good logo. Needs something more dynamic, as far as the overall shape goes, but something a little bit simpler, in terms of overall design. If that makes sense.
IE: You need to make your lettering more simple, for example, I'd keep the letters the same color, maybe if you're gonna add something else like that light wormy thing, I'd make that a different color if you were gonna do multiple colors.
The trick with logos is to keep them as simple, and memorable as possible, while still being distinct, unique, and representing what you're all about.

Best example I can think of off the top of my head, is the Nike swoosh logo. VERY simple, but the roundness of it has a certain kind of, I dunno, I guess you could say elegance to it. That is while still being very motion oriented, which is what Nike is all about. Definitely look at some well known company logos.

Also, a logo should never have a background like that. Drop the bevel, and gradient.

Funny fact, the Nike swoosh logo was commissioned for only $35