The issue with the one above for logo purposes is some of the details and text are too small, so if you were to have it in the upper corner of the page around the size as the current one, you wouldn't be able to discern what those details are. Definitely looks nice, though.
Simplicity and effectiveness are pretty key with a many good logos. Simple, colourful logos are imprinted in your memory much easier. But at the same time you want to look at it and know exactly what it's telling you that it's representing in a matter of a couple seconds. If it's something that you have to read and tilt your head a couple times to figure out, even if it looks cool, then it's probably not doing what it's supposed to be doing.
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