A simple and colorful but discrete logo with both atual and vintage look.
I like the idea. The stroke of the overlapping letters looks bad in this version. The background shape doesn't seem to be centered with the text. I think I would make the center of the "O" larger to match the height of the rest of the letters. Keep refining.
Not a fan. First I read "melette". The overlapping doesn't work indeed.
The ascending thing doesn't really make it any "discrete" and doesn't bring anything. Don't underestimate the power of a logo with its feet firmly on the ground =)
About that vintage feeling, where you going for a 80's kind of vintage? Because that's what I got.