I guess i ll vote for V1 for keeping the color on work + text.
B&W isn t a good choice for battles 🙂.
v2 if you put the main text Sword you should paste the effects arround the sword on stock(not a border), Btw on the original sized stock there is a bit of warm color so you could play with the brushes RED on left and BLUE on right for an contrasting tone.
Something like that:
Anyway good job!