Call me a stick in the mud, but I think the new Palm logo doesn't have the same cool-factor that the first one did. The old one reminds me of BMW - especially when you see it as a button on a device - it conveys a sense of technical excellence. The new one is like a dot-com startup which alludes to the old logo, but then adds orange as a sign of "innovation," but I don't think it works.
The general rule is that primary colors in logos signify stability - Blue, Red, Black - and secondary colors like Purple, Orange and Neon Green are supposed to represent newness and youth. Palm's trying to show a "rebirth" of some kind by going back from the Blue to the Orange. But they're a *hardware* company. How many other hardware companies do you know of that have garish colors in their logo of a startup?
Not to mention the fact that they're throwing away years of brand-recognition as well...
My unprofessional 2 cents. :-)