It looks very freshman design project-ish. I guess it's better than the old one, but still nothing to write home about.
Glad they are changing things, though the new logo still has that icon… which I find unsettling.
I think it’s the chunky curve with the little ticks on the side, but the main “wave” still has a thin, thin, thin white stroke.
Aside from that, the logotype is much better.
Color-wise, the chunky type in scarlet comes across as a little Soviet Russia, but no complaints about the red.
Instantly think of "Day of the Tentacle" every time I see the Rails logo ^^
It has to be on purpose by now.
I think of… eh, other things.