What is surely not intentional though is that the new "asterisk" icon reminds me of my money magically disappearing every time I walk in there. (-POP!- there goes another $100 bucks) sure everything in there is
I digress...
I do like the new colours and custom letter style. I also quite like the letter case change and making it all one word. Feels more personal and friendly. Will it take hold in the hearts and minds of customers? Of course it will. People today just want cheap stuff. They don't care what the sign on the building looks like. They could go back to the old cowboy font and it would still work. Just make sure the stuff stays cheap.
Here's a history of Wal-Mart logos over the years (including the "cowboy" years):