The visual change to reveal LOOKS better, but it's less visceral
The current art is in your face and doesn't blend in with the background easily. It absolutely needs to be more stark because in the age of particle effects, this is absolutely going to get covered up if the current version was hard to see in a teamfight before.
I think the size and shape is fine, but perhaps change the glow to be something more of an unnatural/neon orange? Maybe keep the circle effects from the current form and don't let them bleed into the soft lighting. Also, changing the position of the icon will fuck with people. Nothing is harder to see than something that changed places from muscle memory.