Overeffected, lacks style and overall seems rushed. Definitely doesn't look like it was thought-through enough. Also the next competition is Summer 2008 so maybe you should rather try that, but try harder this time.
Things to correct:
- Better color pallete, looks like vomit mixed with blood.
- Better positioning, the places on which the text is now seem kind of random.
- Less effects or at least make better use of them, don't use them just for the sake of using them!
- Simplicity! You don't have to show anyone that you're able to do gradients and weird shapes if they don't look good in the picture.
- Even though I said it should be simple it doesn't mean you can't add more elements, be it something subtle on the background or more text or maybe some nice graphics in the foreground working as borders or whatever.
- Do it, or at least post when there will be a thread asking you to do so. Before every competition Dr. Neo makes a thread asking people to create a splash screen for the upcoming compo, wait for that and post your splash there.
P.S. The stains give the impression like if it was pissed all over.
