Erase the C4Ds over him Move the logo nearer to Lebron, but don't move it upwards since it might seem weird for it to block his view of the basket. Choose one direction you want to stick with and erase part of the C4Ds which don't correspond to that direction. You can add more still but it is good if you still concentrate on that direction.
the v2 is a vast improvement over the original. Rabbit's suggestions were spot on, and your execution of them was as well. personally, Im not a fan of the short, stubby sigs, but then again thats not a knock on the piece, just a stylistic difference of opinion. Overall though, I think it looks real nice.
I think the C4Ds still look too random and forced. There's no real flow - while the picture has some obvious movement and flow to it that you could work with. Try to work with that and not throwing down random C4Ds trying to make them work. Use ones that fit with the picture, moving upwards and towards the basket.
I can't personally tell where the focal is, whether it's James, the Basketball, or the Hoop. V2 does look much better than V1 though.