i like it but i think it could be improved it seems a little overcontrasted and i think the other colors of the tags need to be brought out as it predominately blue maybe add a selective color to bring out a bit more purple
I'm liking version 1. As everyone else said, it needs a bit of work on effects and the background colouring. Use a Gradient Map or a Photo Filter with Purple / Blue to bring out the main colours in the tag. Other than that once you get that part, use the burn and dodge tool to give it a better (wee bit) focal point. And once you finish with all that, try giving it that blur background look by gaussian blur the entire tag around 1 or 1.5 pixels, then just erase some parts around the main stock. It gives it a nice and clean look. Overall I like the way you think Z.