for the text I think it's cause the "Red Peddle" looks like it's inside of the "hand crafter beer" part.. either make the hand crafter smaller like reduce the circumfrence or enlarge the Red peddle..
for the blood I think it's just the splattery look around it. But I still like it so it's not really a change..
I like the lighter color of the second version it makes it look better overall.
If you can try to get rid of the white around the skull cranks. or try the eraser brush at about 20% and feather all around the peddle so it's white. or distress it a little.
But like I said it's just me being nit picky. I really do like the overall look and if you didn't change anything it'd still look sweet.