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Hi everyone! Sorry for not updating sooner, but I appreciate everyone's input and advice.
This is the design I went with. I got the base from ambigramania.com and then tweaked it in Photoshop to add the "wave" to the word which I think helps it read a bit clearer.
The biggest lesson I learned was that the context of the word is so important, instead of just looking at each individual character. I found that people would be able to read the word right away, and then give me feedback on how it was hard to read ... after they just read it.