Thanks for all your feedback. Appreciate it.
Let me explain a bit of my thinking behind this Design:
Using the S shape from the old Icon was a no brainer, since it is very recognizable.
Modern UIs (Win10, OS X, IOS, Android) tend to switch to a "Flat" design approach. Hence the white "S" without bevels or shadows.
Contrast on the old Icon is low by it's nature. Therefore the blue background.
Round because it would fit with many other App Icons.
I would argue the Flat "S" shape ist the main Focus of the branding. The surroundings could be adapted to the OS, where necessary (start menu... )
So how would this fare in the Windows Context?
Even the round App-Icon blends in... I'd argue.