Well first off it's monotone. Your text could use some work, and I would scrap the border altogether. Could use some more depth, and perhaps some more colouration. But the effects are nice, and just a few touch ups and you could have yourself a good tag.
I agree with what VEGA said. It definitely could use more color and the text should be changed. Try to keep it simple when adding text, it doesn't need all that distortion etc. Otherwise you've gotta good start, keep it up
