Hey MJ,
Honestly, it looks like clip-art and it cheapens your brand. Plus, it confuses people when they identify
Viking Cue 9-Ball Tour with your established mark and then you change it to something else. There is updating your identity with a revised, but still current, logo (eg. UPS, Burger King) then there is confusing your audience with a complete re-design.
You said that this would be used on minor advertising (t-shirts, towels, etc). Why? What is there to gain by using the other logo? I'm not trying to sound like a no-it-all, but business and large companies do this all the time and it drives my crazy. I've been a graphic artist/art director for 10+ years and the hardest thing to sell people is not changing their identity. You can update/revise/adapt to new trends but never change who you are unless of course, you just filed bankruptcy, then that's another ball of wax.
I like your current logo, it plays of the "V" in Viking, its style reminds me of a sharp cue inlay, plus it says everything about your brand (who you are and what you do). The other logo seem very aggressive and punkish, not that that is a bad thing, it just a different message. Some people will not agree with me but that the beauty of design, everyone has their own opinion.
Mike