LOL... not even close :)
Well the lightning is clearly a premade effect. The particles for smoke/glow are just created with a path. Whatever you used, it was predefined.
I work in the television broadcast industry and believe me, the little bit of flash that was added in the 2nd example is certainly not OTT (as you would say).
Considering half the logos you see out there don't have some gimmmicky lighting/particle effect, I'd say it is OTT. (this is a matter of taste so not really worth arguing about)
Anyway, in my line of work the first example would be rejected by the client. The second example the client would gladly pay a few thousand $$$ extra for the "flash".
Not bad for a couple more minutes of work :)
But what if the client said "I want a smart simple logo, that doesn't have any over the top gimmicky effects that have no relevance to the actual design of the rest of the intro ?" :P
Isn't a 3.5 meg intro animation fro a website or a game that will be distributed as shareware a bit much? :-)
Check the filename.