The design concept is taking what already exists and breaking it down into the basic elements, tossing out what not required and simplifying the brand makeover into a clean, fresh relevant identity.
I like that you reverse engineered it to its empirical form, but still keeping it recognizable to existing clientele. Now play around with it a little more and use your creativity. Try not to cross the line of "TOO different." You want to be just under that line.