I would take away the fake dictionary entry part. It really doesn't add any value, the explanation has no word synthesis or definition elements/feel, and it is becoming a pretty over-used device that instantly cheepens the design when not used appropriately or tastefully.
I agree about using the first one. I would tweak some stuff, like how the right edge is off by about 2 pixels but the left edge is flush. Also, your border is sometimes too wide at about 2 pixels, and then looks good on the right and bottom borders where you went to a 1 pixel border. Consistency in the details counts.