Lisa, interestingly the LR icon does represent two people/businesses/parties coming together and interacting. In a very simple and effective way - from two directions they then turn to go in the same path. It's quite nice because people won't see the LR immediately (to be honest, in this and other designs), so it's great that it has a nice balance and look to it.
The rounded corner of the L and R also have a modern look – almost like the corner of a monitor or iphone, a nice abstract shape.
I'll keep thinking but that's a great backstop!
As far as signage colour - it's a little difficult to comment without seeing the location. However, as a general rule the main thing with signage is contrast. Whether it is light on dark or vice-versa, the main thing to avoid is colours not having enough contrast. either way will work – but the final result might be best decided after viewing the location or building.
These bright colours, with white, on a dark charcoal grey are going to work, full stop. It looks modern and sharp.
Hope that's helpful!
Michael