I just uploaded a few more versions. I figured that making the BMW alternate blue and white it might make it more recognizable with out infringing on BMW's logo. Also, on these I made some lines behind the letters to give it a more machined look.
I uploaded a few more ideas. However, I see that over night, others have been using my concept of enclosing the logo in a placard shape. This greatly impedes me from refining my concept.
I have worked for a few motorcycle industry manufactures on catalogs and ads for magazines such as American Rider, Drag Specialties, Cycle World... so I am aware that in the industry colors are very critical. American bike part manufactures won't use red since it is seen as the color representing Japanese bikes and vice versa. So I understand you not wanting any orange since that shouts Harley-Davidson. However, I am including a few version using the German colors for your consideration. Mimicking the German flag won't tie into any other bike and may lend itself to the positive perception of German engineering.