I like the red in 11 better than the green in 12. I think you've come the closest to getting the feel of the letters "falling out of the sky". It needs to look bigger though. I think if you took away the stripped background and made it a "sky" background with some clouds and almost "zoomed" in a little bit to make it look bigger and more "epic" it could have a lot of potential....
Thank you very much for your interest, I have made some modification from my previous entries as you suggested, Please check entry #31 - #34 . Waiting for your further feedback.