I'd look to taking the "Chony" and putting it inside the "C" graphic. As it is, when " 1 is reduced, the type would be too small to be effective on, say a return envelope.
Also, the blue is not an "out of the can" blue, so you've got a 4 color process job if you do conventional printing. If you do limited quantity digital printing-no problem, other than a reduction in quality.
# 2 is better, application wise, but the note for the "o" is a real problem, i think.
Good effort,
R.