Hi
The concept of having an M for Melbourne in the shape of the pool carries the subconscious message that your company is top quality. Think of Richie Rich and his dollar sign pool, people won't necessarily connect that as a conscious thought, but that underlying meaning is universal.
I've gone with the very crisp clean blues that are normally associated with pools and spas and have added a luxurious grass green. This adds to the high-end feel of the logo and speaks of the lifestyle the pool affords. At the same time the lettering is solid and purposeful, it says that you're craftsmanship can be trusted.
Cheers,
Robin.