Hard to tell with the pasted code, the text editor chewed it up pretty well, try wrapping it in <pre> tags and that should help it from getting auto-format'd into oblivion.

However a quick note: If you are editing your skin.html file, you will need to re-parse the skin package through your Admin/Host>Skin page. This re-analyzes the .html file and creates a new .ASCX file, however if you're editing your .ASCX file directly, try inserting some test text first, refresh your site to see if it appears, and if it does then at least you know you're on the right track. From there, it's only a matter of testing the formatting of the Embed/Object tags and making sure your pathing to the file is correct.

Basically, you're not as much 'hacking' the [LOGO] to a SWF file, you're just adding a SWF to your skin. Hope that helps a little bit.