I think the concept would look better (to highlight that it would make a mirrored version of the word EMU) would probably work better on an animated splash screen or such, but we don't have one of those, and I don't like flashy animated websites ;-)
I'd be interested to see a single M that crossfades between the colors. Just a straight linear gradient, none of the swirl pattern (shiny gradient logos are very early 2000s by now). I think that could be pretty nifty.