Sorry for interfering, but my artistic sense cant let me be without saying it lol
Make the BMM on the logo as the front layer and the gears behind without overlay
awesome work dude, and sorry for interfering
It is on top of all the layers, just that the "fill" has been turned down a bit, giving you the transparency effect. Also, if I get the time, I'll hop on aboard, just got free from all my work for a few days.
Those two logos look great, especially like how V2 uses a thicker text. Not to sound picky, but if its possible, could I see the text be totally opaque, to cover up the gears? I'm just wondering what that would look like.