I can't really tell what it is... but I like it! Maybe give the lightening bolt (wait... is it lightening?) more dimension... the blueish purple parts should be dark grey. Once it's grey, select it and make a new layer with a copy of it on. Then throw in a bit of bevel and emboss. Hmm... instead of peach and faded red, blood red and dark grey or dark purple and dark grey would look good. Give the filled in area som Bas Relief, select it, and go to the colour balance to turn it all blood red or dark purple. Ooooh... that would look so spiff!