It would probably look cooler to just have the X from the logo on the covers on their costumes. Just that 3d X by itself or even cooler would be each character having their own distinct logo on that spot of their costumes. Not words just a graphic like Angel's halo logo that's usually on his chest.
With the logo I kept seeing an X and a V, it took me a while to see it’s supposed to be an X and F. I think it’s also supposed to suggest a line graph, but it just looks weirdly sparse. The X-Men and Exceptional logos are also not working for me.