I took a visual media art class, and I'm just thinking out loud. We had to learn to analyze visual media, break down the components, and learn what the effect is on the viewer.
The old logo used perspective and foreshortening with the logo larger and closer at the bottom than the top. This has the effect of catching attention, and drawing the viewer's eyes in. Here's a link about foreshortening and perspective:
http://en.wikipedia.org/wiki/Perspec...Foreshortening
The yellow/gold circle has all the psychological impact of yellow/gold, plus the circle draws the viewer's eyes from the bottom, around clockwise, and to the top back. Combined with the print appearing closer/bigger at the bottom, this draws the viewer into the logo, and by default into the website.
In contrast, the new logo doesn't have a focal point, and it's plain, so it doesn't draw the viewer's eyes in.
Maybe an art major will come along and say if I'm on track or not?