That is quite a cool logo.

I like the colors in it, too.
There is nothing wrong with some logos and graphics, so long as your host gives you enough bandwidth. The connection speed will determine how fast the graphics displays, but the text will display first anyway, so there is no problem.

As far as .PNG, I was not aware there were problems with it. Of course, I had not heard of .PNG until recently. I know nothing about it.

You are probably better off sticking with the older types like .BMP, .GIF, .JPG.

Regards,
Michael