Hi Desiree,
Oh wow -- it would have been great to meet and I could have shown you the dungeon! I went with your design because it manages to convey anonymity with the mask, the name 50Shades conveys the type of activity, and as you suggested, the ribbon is a subtle representation of bondage. When I tested logos with my target audience it was the clear favorite, though it was a difficult decision, especially among the top three.
It's after the fact now but I think I'll add a tag line which I will not always use but for special uses it would say "Safe, sane, consensual and sensual BDSM play". (no period). If you feel like adding that using the same or a compatible font that would be great but of course you are not obligated to do so.
Your color variations were perfect from the start and I appreciate the variations for printing against black.
And next time you're in SD please come check out the space. I will certainly comp you in to our first party which is tentatively scheduled for October 18!