I'm pretty sure saying "real nice" or "nothing special" isnt really helping him out much but whatever... anyways I like the first one but I would use more effects in the BG also try different effects instead of spamming the same one over and over again. Try to mess around in photoshop with different filters on different settings and when you find something you like then use it. Try blending and messing around with the opacity settings. Also try downloading some brushes from the resource on this site. Read up on some tutorials, try them out and learn new things. If you plan on adding font use these sites for some funky fonts... www.dafont.com www.acidfonts.com www.1001fonts.com those should be enough. Keep making sigs and remember what I said. you will improve...everybody does. Hope I helped.
I think you should go back to v1 and work with it a little more, I looks like you were midway in completing the sig but then decided to stop, keep the smoke effect from v2 but put it in v1's color, after work with some filters and gradient maps to tone it up Overall good sig, good job