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I can't read it............................easily. You're trying to be far to clever. Keep It Simple.....
Tony, IMO the bottom one is better (with SIGN in RED) ... it grabs your attention more than the one above (with Gray & Black text). My only suggestion would be to maybe add a thin White stroke around the Black "S" icon to help pull it out of the Black background a bit, leave the Gray and Red shadow effects as is, just see what it looks like with a thin White stroke around the "S".