It took me a second but I like the e for the X "logo". Maybe make the "Fine Art Photography" smaller and all caps (but capital first letters and small rest, but all caps... Hope that makes sense).
The eXact above the eXposure is good, but is there a way to make it all on one line? It probably wouldn't look as good, but could the X'es be replace with the "logo" X? That may be too confusing I think? Of course if you did the "logo" X'es would have to be smaller (but still larger than the lettering).
The new looks are unique and creative. If I weren't worrying about space considerations I'd keep them in the running, but I have to think about where I'm going to place the logo (web header) and how well people can instantly see the look I'm after (plus who my clients are).