Paperback: This cover is a little...odd. Everything is a little off-kilter, I guess. Audrey's outfit is a little strange, the sideways author's name is a little distracting, and that little quote is much too wordy. I have to agree with Megan on the title font, though. It's pretty cute.
Hardcover: This one is definitely an eye-catcher. (And I don't think you're going to miss the fact that the title is Audrey, Wait!) I think the design gets it a lot of attention, which is exactly what you want—and need—when you're trying to sell books.