I'd drop the gun entirely. What the "splonge" does do is enhance the 50's vibe with it's retro shape. I like that much better than the gun. Of course, it needs to be explored further.
I think people are responding to the font because it's just too over the top. It would be better if only the word "cosmic" were in that style and the word "creative" more simply rendered, especially if it's going to be much smaller.
One thing I've always found is that no matter how much you hate, or how idiotic the suggestions from the peanut gallery (or client), the process of rethinking the logo almost always produces a better product in the end. It's not easy to put your work out for critique, and I applaud your openness and courage.