Big fan of the black version - although I don't really get the point of the red swoosh in the "A". Could we make it a sans-serif font, instead? And there seems to be an awkward amount of space around the end of "franklin center" and the "o"/magnifying glass.
Hey - one last tweak. Can we get a version of #1 that has "Watchdog.org" all on the same line, and then just "a project of the Franklin Center" underneath?