Paul !!!

Here's your design with finishing effects, and some closeups for detail. We tried filling out the outer lettering with a red accent similar in shade to the tartan red. We looked at the flames, but they do make the lower type very difficult to read. All the silver elements have been given a shiny, embossed metallic treatment; including the axe blade and the trim around the banner. Textures have been added to the belt, lion, and banner. Drop shadows have been added for depth, and to define each element's placement over what's behind it.
The earlier version is posted at the bottom.