The signature I think is very basic. The font looks not very good, I personally think that the text should always match the background or be as basic as possible. For example use a small white font saying Jericho or Chris Jericho.
But its not bad for your second attempt but I'd really try to limit the amount of psds you use. For me I tend to try and use one, blend some stocks and effects in there. But you can make as many as you want work but my advice is keep going and try some of this...
My advice
Try getting some stocks, eg pictures of the person/wrestler you are using. If your doing a WWE guy try WWE.com browse their photo section and hit print screen and use the crop tool to take the actual picture out and there you have a picture. They can be very useful.
As someone else said, you'll need to get some brushes so you can add some depth and some effects to them.
Also check out:
www.planetrenders.com get yourself some C4Ds and effects that can help your backgrounds look cool and add some swirly effects merged around the wrestler.
Another thing you should check out is C4s basic signature tutorial followed by his advanced tutorial. Whilst also searching deviant art for Hysteria tutorials as they are very good also.