number 1 would be impossible to embroider if that's something you plan to do in the future. It will also look dated in a short time. If you had t-shirts done with this one how would you know if the silkscreen co. did a good job? Same with faxes and such.
Number 2 is clean and can be reproduced in a number of ways such as silk screen, embroidery, etc. It's easier to read and identify which goes a long way for long term branding.
Think of packaging or decals. Which one would stand out best. Look at companies with the best brand recognition. Simple, clean and never change. Logos should have very clear defined edges/boundaries and have good contrast so they stand out on most surfaces/textures.
My 02.