I love the colour scheme, nice font choice too. The predominant issues I find is that it lacks balance and symmetry, will be costly to reproduce and it won't scale well.
Here's what I'd recommend:
As you can see, I've removed the reflections. They look nice on a web page but not so much were you to reproduce the logo in embroidery or screen printing.
When it comes to logos, simple is usually best. This one will scale up or down to a ridiculously small size with great results, will be more easily recognized, will look great on black or white backgrounds and will be less expensive to reproduce in colour.
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