I prefer the crest to be seated on-top of the "L" it compliments it nicely as it has a similar width, its as if the "L" has been crowned. I love the re-entry of the droplet, it seem a bit over powering though I do like it, this is the little element that can set this apart from the rest of the logo's.
Just as people say the apple logo would not have been as successful without the very discrete bite it has taken out of it.
Though upon further observation the droplet distorts the character and makes the "p" look like an "R". The droplet will have to be re-sized and/or moved.
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