This was another idea I had for  cobaltk's ambigram commission: http://www.furaffinity.net/view/6968253

I liked this solution a lot, from a technical standpoint. If you look at Cobalt's original logo (at http://urgentcrisis.comicgenesis.com/ which is also a good read), this version has all the same strokes, just hammered into a symmetrical shape. The space in the upper-right could be filled with a portrait.

But I think the one Cobalt chose is actually more useful. In these other two solutions, the emphasis is on the U and some transfers to the C, meaning the T is less emphasized. The ambigram where the three letters use the same glyph gives them roughly the same emphasis, which is much better for a three-letter abbreviation.