ID,
We like your interpretation of designing the word so that it can appear as if it reads frontwards and backwards.
About the only issue keeping these designs from being ranked first is the lack of a signature design element. We think the interesting font and the letter design might be enough of a design feature so as other additions are not necessary, but we also like the designs that have a shape, arch, shadow, or something similar in addition to the font.
We like the outlines and the colored background as well.
When you first glance at these designs the "E" in the middle of the word stands out a bit (not surprising since its the middle of the word that is able to be read frontwards and backgrounds). Possibly some sort of added element near the "L's" would highlight the "L's" of the word "Lateral" at first glance, yet still without being too distracting or taking away more from the rest of the font/word. Just a thought-
Lateral Team