Horrifyingly bad logo.
But I like the name.
If I really gave a hoo-ha, I'd make a lightning bolt design that would knock your socks off.
But I don't really give a hoo-ha.
The vast majority of NBA and NFL logos are terrible, particularly the NBA.
MLB does a decent job because they stick with letter combinations. LA, NY, SF, C, B, Sox, A, etc.
In the NBA, the Pacers, Blazers and Rockets are the only ones that even qualify as "not bad".
BIG EDIT: Here's why Thunder is actually a fantastic name for this franchise:
1) Thunder is the result of a lightening strike where the air around the electric spark heats up and expands so quickly that it breaks the sound barrier and creates a SONIC boom. SUPERSONIC = THUNDER.
2) The only thing Oklahoma could possibly be famous for other than genocide is this - it is the very heart of tornado (and thunderstorm) alley. Thunderstorms are to OKC what racing is to Indy, it's the city trademark.