I actually think the new Kangaroos logo is pretty bad.
Logos should be very simple, stylised and not have too much intricate detail. They need to be visible even when the logo is produced at a small size. If possible, they need to be re-producable in black and white as well as colour.
Compare the Kangaroo on this logo to the Qantas logo for example. Or look at Yakstorm's excellent WIRLF logo. Simple, clean, elegant.
This one is way too complex, and looks a bit dated. The blue Philips logo doesn't help but the problems are deeper than that.
It's an excellent idea to include the twin Gold Vees, but why do they have to be curved? They even do it on the Kangaroos jersey now and it just looks crap.
I think you could include the three design elements of a football, a kangaroo and gold vees in a way that doesn't include a badly drawn kangaroo and crap looking text.