I agree with the notion of "too much gray / wishy-washy color"; the fact that the chalk itself is white -- white is a key color component of gray itself -- doesn't help.
However, most of a great white shark's body *is* gray, not white. So the color scheme in place does match that of the great white shark on the label.
The label doesn't "pop" as I'm sure Chris wanted, so a more bold color would fix that. The problem is, which color? Black would do, but with black being the other color component of gray, it would make the white chalk itself stand out even more -- the eyes would be pulled to the white chalk instead of the label.
I'm thinking blue would be a good color for the label. Blue as in the ocean, which you find sharks, and it would also match the blue in a lot of tournament cloths.
An expert on this subject that Chris might want to consult would be Mark Kendall, guitarist of Great White, and also a great player and reader here ("markgw" here on AZB). I'm sure he's got an opinion on this topic.
-Sean