There is consistent proximity throughout the logotype. The negative space forming the "N" makes sense with the name because looking at the logotype engages the audience when locating the "N". I also think the logotype font works well bold.
Water Splash Photoshop Brushes via You The Designer. These are creative and unique in their own way. The fact that they are made from water is creative and interesting. These would be great logos for a water co.