It's the right idea, but being able to reproduce it simply in 2 colors would be cool. I like the grayscale, but, I'm concerned about cheap printability. Doesn't rule it out though. Perhaps reshape the cube element to more resemble the shape of the device.
Link to image of the device in use on a camera:
http://tomguiney.smugmug.com/Other/airbox-web-shots/15943314_q3tiv