The logo name should read 'playbank' (omit quotes). The logo should also contain a cool owl wizard creature with round spectacles. Think of him as the "mascot" of the logo.
As for the overall look and feel, I like the idea of having the logo a bit more subdued like Playfish's except perhaps with a green or darker blue background. I also like the gradient feature in the background image. Possible color backgrounds are below but feel to experiment if you think something else might look better.
Green (red 140, green 197 blue 64)
Blue (red 57, green 114, blue 205)
In case it's useful, the newsletter will also contain cartoon avatars that look similar to the attached files. You can work kids into the logo but having multi-ethnic children is a bonus.