Prefer the first version. Especially the typeface. That goofy script on the second version looks cheesy. Horizontal design is fine though. But why is the faceplate green? It should be black to match all the other Soundtoys plugs.
(Incidently, why do manufacturers insist on making rack gear in all kinds of outlandish colours? Don't they know the only good choices are black, grey, or plain brushed metal? Any other colour is bound to clash with everything else in the rack. Get a bunch of those rainbow units together and you get a rack that looks like a flea market display. Stick with neutrals. That's my interior decor tip of the day.