I feel like if I think about it too long, I want to say it's not easy to read. But then I realize that I knew what it was as soon as I saw it, so obviously its working. Being recognizable is very important.
The idea being this Coca Cola Light advert is that the new Coke is so 'light' it infact floats instead of falling downwards when being poured. Obviously it is just a play on the words but i think its effective and bring light humor to the advert.