I realize I'm late to this but I *despise* this. Well, despise may be too harsh a word, but don't really think it should be in the mix. (Adam, please don't take this as being rude, I'm just blunt sometimes - and it's not a technical issue in terms of looks that turns me off)
I think there needs to be some consistency in look/feel for any variations. This version takes away both the "L" from Loop and the yellow/gold color cue from the main logo -- stripping both seems too much.
If going with a version that's not including full text of name, think you need either the graphic arrows/loop element (which gives you the entire color palette + visual representation of the "Loop" part of the brand), shown earlier in the thread, or *both* the G and golden L which keeps the colors and name representations intact.