I design these ambrigrams professionally and for pleasure (I'm a graphic designer by profession) and while the concept of this design is interesting, it's completely illegible! It took me about over 5 minutes to read this. Not good. A good ambigram should still be legible above all else. I think the problem is not the solution as such, but the use of embossing on the type which detracts from the legibility. The letterforms are a little too tight and the kerning and tracking is poor which doesn't help. I understand that with ambigram design the trick is twist and contort letterforms into shapes that perhaps they're not meant to be, but I think this logo could be really really good with some simple tweaking making an excellent brand logo for the band.
A good logo, regardless of whether it's an ambigram or not, should have several key features:
1. legibility
2. works in black and white
3. can it be faxed?
4. works on a small scale
It amazing that most of the logos featured on this thread are not legible and lack one or more of these basic rules. Perhaps I'm being too professional in my critique, but a logo is the first step towards a brand identity which most people and fans will identify with. The ones that really struck me were completely clear and legible AND suggested a little bit about what the band stands for in terms of musicality and professionalism.
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