I cant say I like it either . I think the overall shape can be improved to be more interesting to the eye.

Here some examples that may inspire you


http://www.walksvictoria.com.au/walksvictoria-pics/prom-lighthouse.jpg

http://ih2.redbubble.net/image.4442181.8742/flat,550x550,075,f.jpg

http://www.investoffshore.com/blog/images/Roker_lighthouse.jpg

http://upload.wikimedia.org/wikipedia/commons/f/fe/Cape_Hatteras_Lighthouse.jpg

I also think that maybe your light beam should be more sharp.

I really love the original icon, its one of the best if not the best icon I have seen used for a coding application. But variation is always welcomed ;)

I am actually thinking designing my own icon for my application too. I know making art is not as easy it may look.

Definetly excited to see where you will go with this.

From: Camillo Bruni <camillobruni@gmail.com>
To: "Pharo-project@lists.gforge.inria.fr Development" <pharo-project@lists.gforge.inria.fr>
Sent: Monday, 17 December 2012, 20:48
Subject: [Pharo-project] Pharo Icon Revamped

I spent my days reactivating my Illustrator skills and tried my luck 
on the Pharo logo. I still lack the water and some perspective mismatches
with the stripes :) but for me this looks better than the current one :)
(as usual a highly subjective opinion).


cheers
cami