Ragnarok: ATW

This is my entry to the Mythical Creatures T-Shirt Design Challenge. Looks pretty strange, I guess, but it's for a reason.

The colors I originally used were red, orange and purple; nothing more. Unfortunately, due to the fact that I drew it traditionally [link] and I haven't got a scanner the colors got all messed up with the digitalizing and editing [link] .

The mythical creature is, as some of you can probably guess, Jörmungandr aka The Midgard /World/ Serpent from Norse Mythology.
I'd love to know how you interpret the rest, so please comment and tell me.
_{But if you don't feel like analysing it and/or want to see what I'd meant (sort of) and what the meaning of ATW is, please follow this [link] .}

Anyway, please vote for the design if you like it when the voting period starts on the 25.07.2012. And don't forget to vote for all the other cool designs out there too!