I bought this because I figured having an offline, dedicated software platform would be more convenient than some of the online logo generators I've tried in the past. However, it's actually quite difficult to use. For example, I'd like to include a book in the logo I'm making. There are a few in the clipart objects, but how am I supposed to locate them? I can't search by text or tags, and the groupings don't really make sense-- e.g., one of the book icons shows up in the 'Human' group. I'm not sure where the others are grouped, but I found them in 'all objects.'
Altogether I don't think this will be very useful for making a professional logo, but I can see it being useful for people who just need a quick and easy solution for adding clipart--maybe teachers putting together something for their classroom, or making flyers to advertise something. I can also see young kids having fun with it. It reminds me a bit of a program called Printshop that came loaded on my very first PC back in the early 90s.
For making logos on the cheap, however, I'd recommend logogarden.com, which will also let you download a vector version for less than $10. As other commenters have already mentioned, vector is a necessity for professional quality, scalable logos.