Hello Anurag,
I went back and re-worked the colors for the bootsplash so that the background is now a soft grey color you said you liked. The only hitch I had was in the placement of the loader information vs. progress bar.
I tried to have the loader information be placed toward the bottom portion of the screen, but couldn't get it to cooperate with the progress bar. I noticed in DrakSplash when moving the sliders that each element has its own set place where it can be positioned on the screen, but cannot cross the other element. Please let me know if there is a way around this because it would be interesting to know if I missed something. I would also add the information to the tutorial as well.
I also noticed that there was some loss in quality of the penguin head logo and the G in the bootsplash. The penguin head logo was shaded and lost a lot of its quality in the conversion process. I didn't understand why the G would be affected when the white text clearly stands out without any distortion. I'm going to have to experiment with proper design construction of images to be used as bootsplash screens.
What do you think about the text I've chosen for this design? I chose it because a serif font usually gives text a more 'classy' look than a san-serif. Fonts such as Times New Roman, they're usually reserved for printed materials. Would a more rounder style, such as what the current font be better to present the program as a bootsplash?
With that, check it out and let me know what you think and Happy Holidays to you and yours.

Sincerely,
Roger Nurick