I see what's going on. The RAWerter, when loading up the grayscales from a fresh RAW file, makes the light gray REALLY REALLY LIGHT, and when you paste that into logoeditor, it goes above logoedit's upper cutoff point for light gray.

Problem can be corrected by making the following edit to LogoEdit.ini:

GrayCutoff2=160
change to
GrayCutoff2=166
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Tony Fabris