This is a pretty brief but useful video, especially if you are not familiar with basic photoshop techniques. It’s up to you to decide if this is a “web2.0” logo or it’s not. People call it this way, so here it goes just like this.
Personally, I think that this “reflection” thing is just an effort to make the shape a little bit better looking since the logo/typo itself sux. Same sh*t with the gradient. Apple fans like this things so if you got a MAC-fan client – go for it ;) It will do work. Otherwise – just stop using photoshop for making logos. Logotypes are done first on paper and then in a vector program.