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...but that's just a personal preference. I really like how you get the test tube effect without actually having it there.
I really prefer the more sinusoidal liquid in the bottom example, but I'd raise the liquid level a touch more (not a lot, just a little) on the left edge, so that it's decisively crossing the counter of the e, instead of just skimming the edge.
The dots on the is in the bottom example should definitely be enlarged until they're just wider than the stem. They'll look too small otherwise.
I dig the font in the first one, but I'm a sucker for Museo.
