In 1993 I was asked by Marvel to create a logo for their character Nightwatch, a superhero appearing in some Spider-man titles that was planned as a new series. I don’t have all the marker sketches I did at the time, the first one that survives is #2, above. This is actually my favorite of the surviving sketches, but I can see why it wasn’t wanted, not very appropriate for a superhero.
Version 5 simply fills in and deepens the drop shadow. This increases readability, but puts an awful lot of black in the logo.
Version 6 is missing, but from the notes on version 7, it was quite similar to this one with differently shaped W and C. I think this manages to be pretty readable and bold, and it was the design Marvel approved.
As printed on the first issue, and with red in the outer shape, I think it reads fine. Very much in the pointy and dangerous style that Marvel was looking for at the time, and it fills the logo area well. The book did not last too long, perhaps a victim of the industry downturn that began in 1994, when the the series saw print.