I like where you're going with #40 the icon in the 'U'. I don't like the font though unfortunately. Typorgraphically it's too un-kerned and offers no baseline. Not quite what we're looking for.
Some tips; Make sure your designs DO NOT look like those in this PDF: http://livingimagephotography.com/lux/LUX-MockupPDF.pdf. The designs in this PDF we have rejected, and no longer working with this designer. We're looking for something much more evolved and modern.
Be sure to look at the Contest Attachments for inspiration.