Looks good Stu but might not be practical.
Stickers for that design would be difficult to make, as would t-shirts if screen printing was used. Every extra colour adds a layer and a cost, there is Black, Grey, Red, Blue and White there. 5 against 3 of Colin's design, so for a t-shirt point of view that's half the number of screens that need to be made, so perhaps a huge saving.
Similar with sticker printing where for each colour the machine needs to be re-aligned. Not cheap

A simple, plain and bold logo is what is needed IMO.