I really don’t know what you are trying to argue here. You traced their logo and added an “m” to it. Is there more to the design that I am missing? There is definitely not enough parody (difference) between the band’s logo and your design.
Besides some companies being more litigious than others. As an artist, how would you feel if someone did that to your work? For example: If your F-bomb design appeared on woot or another website, but just had a single letter added to it.
Just reference: These are the Derby Guidelines.
“We will not print brand or company logos, please don’t include them in your design.”