Logos: Good vs. Bad

I'm feeling that this: 

is a good logo.

I speak with the background of knowing what this is for, but even if I was not aware, this logo implies fun, and lots of it. I really enjoy the manipulation of negative space into letters, and it's very impressive that the squished font doesn't actually look or feel squished; rather, "gishwhes" appears spaced and placed appropriately. The mascot doesn't get in the way or take away from the overall image. Really, it just kind of adds an entertainment factor.

 This, however:

is a bad logo.

Really, I don't know what the designer was thinking. When I looked at this the first time, it took me a very long while to finally understand that the weird jagged shapes are actually the numbers 2012. It was a difficult conclusion to get to, and it was not at all easy to understand. Even after I understood the numbers, it didn't make the image any better. There's an awkward feel to the piece, a lack of cohesion. The colour isn't so bad alone, but when I think of the Olympics, a fuchsia pink does not come in mind. So, again, colour choice is also poor. The only think I kind of like is the font that's used for "london" and that "london" is inside the numbers rather than outside.