Unfortunately, it appears that they're going to put a white keyline around it on dark backgrounds. Check out these shirts:
This is also true of the caps; the sky blue snapback is fine, but the navy slouch cap has been given a keyline.
It may be a small thing, but I'm really hoping that this isn't going to be part of the club's standard treatment.
UPDATE: The second round of merchandise has hit the online shop, and it's good news:
New navy flex fit cap, but no white keyline. You can see what I mentioned above, that the outer orange circle serves as a keyline itself, separating the crest from the background.
It looks so much better this way, I hope NYCFC will carry this forward to all applications.