This is a nice idea. It's interesting that arrows are being used as both negative and positive shapes. But I think you need to consider working on consistency.

Some letters seem to have angular serifs, while some have squared serifs. Also, the use of the arrows needs to be considered. Some have arrows coming from the black, positive areas while others do not. Like, the "E" for example does not have an black arrow while the "B" does. Maybe these forms only need the negative or only need the positive arrows, perhaps not both.

Also, the width of the negative white arrows needs attention. Some are wider than others.

Again, good ideas, it just needs a little more work and constant use of the shapes.

I like the new direction. I also like how in some of your numbers the arrows follow the shape: like the 3, 5, & 8. I'd kinda like to see that maybe in your letters. Like the arrow could bounce inside the "M" or "Z." Overall great job.