This has been an interesting exercise. I posted the two options on Livejournal, Baen's Bar and rasfc. As of now, 7 have gone for option one, 8 for option 2, 4 for a composite and 4 didn't like either.
And there have been some excellent comments. I'll produce a third option over the next few days taking in all the suggestions (and realising that there is no combination of words known to man that will please everyone)