Do my potential customers need to understand the “meaning” of a logo?
If a 100% understanding is not achieved graphically, at least it should have a hint of the meaning.
Do my potential customers need to recognize my logo?
As in everything, I think it's about reaching a balance, if it turns in favor of one of the two options, much better for you, your company and your costumers.
I don't think it's very positive to disadvantage this balance towards a negative point. In the case of your logo, beyond formal errors, which has them, there's a quite important conceptual controversy that leads any potential customer not to immediately interpret its meaning.
The company is called “TWO-Bit Studios” and the main image perceived is a “1”.
Beyond the meanings, there is formally a two represented with a one.
A few years ago, quite a few, there was a stylistic tendency derived from deconstructivism that favored this type of interpretation to catch the public attention. There are examples in advertising, fashion, architecture and also in graphic design where for example a logo had some error in kerning, or alignment, or also some conceptual ambivalences. If in your case you talk about 2 and the image represents a 1 (and a 0), you are generating an ambiguity that can affect an effective result of your logo, which can be remembered for the “pseudo” error, but I don't think it will be interpreted.
Imagine your logo with the name below:
There's a graphic representation of four elements: the two, the one, the 0 and the bit b:
Maybe for a developer it might be something immediate, for a general public I don't think so.
I'm not a developer, but I know that among the main visual characteristics of the binary code are:
- Items repetition
- Equal distance between each component
Neither of these two features is represented to favor the shape of the letter b. Another point to increase the non-immediate interpretation.
Personally I think there are too many elements for something so simple. Perhaps a cleaning in the conceptual argument favors both points raised in the question:
- Do my potential customers need to understand the “meaning” of a logo?
- Do my potential customers need to recognize the logo?