Yes, that looks better. Stroke effect would be cleaner than an Outer Glow.
In my view the red reflection doesn’t have to be that strong, it detracts from the text somewhat. Could be about 50% of the current value. And the reflection could have a bluish tint to it, since the whole plane does.
Doesn’t really need a horizon. The horizon could be above the top edge of the image, so it wouldn’t be seen. Unless you want to add depth, it is not needed. (If you do want to try it, it’d probably work better switching the direction of the gradient so that it is blue in the foreground, white at the horizon.)