Right now it's rather dark and forbidding.
Color, properly done, may or may not mitigate that. Too much color and it will look like a logo for a traveling circus, too little and it will remain dark and forbidding. I use the term 'forbidding' because it most certainly doesn't make me want to call on them.
If those round things are supposed to be screws then they conflict with the perceived perspective the drop shadow adds to the band where they live. Try allen heads, they come in perspective and there's no doubt as to just what they are.
Overall, way too much detail for a logo. Try losing all of the effects and see what it says.