If you went with a little less rounded forms, you could probably articulate the arrow in the G to greater degree.
Okey, I'm creating a logo for a research project of mine. It can be described as a xml-based markup standard for defining graphical user interfaces. The technology name/acronym is XUG, which means, roughly, "XML Graphical User Interface Language for Games". It's kinda like HTML, but for game interfaces.
The general idea is that I wanted something that looks simple and modular. It's not a commercial project, and not something for large database applications, so I don't want anything bussiness-like - it has to be a bit fresh.

The use of red/green/blue is kinda obvious, since it's a technology for defining the appearance of stuff on screen.
The glyphs are meant to be very simplistic and, again, very modular. The "G" is meant to look like an arrow circling - one of the main features of the technology is the ability to have animations/transitions done easily, so I wanted to give a little hint of that on the logo.
Is it too cliché? I know these blocks around the letters is probably overused, but I can't remember of any similar logo right now. Can anyone remember a good example that will force me to change that?
And what do you guys think overall - does it have too much space between the blocks? Are the glyphs too heavy?
Thanks.