Open image in PS, duplicate.

Go to Image - Adjustments - Hue/ Saturation.

In the Hue /Saturation box, click on Colorize.

Play around with the sliders until you get the look you're after.

Click OK.

Done.

like this?

If I were making this logo for a client I'd be using pics of real bullets (different angles, some lying flat, some propped up, etc.) and painstakingly laying them out around an under guide of the "kult" word. You want it to suggest the bullets are 'piled' - look at a pile of any objects th...

I was still thinking over this problem of yours and 'fingerprints' came to me.
Take a look at this texture (unsure if it's tileable) here:
http://www.mc2.chalmers.se/mc2/pl/lc/engelska/gallery/fingerprint.html

Sort of reminds me of tight topography lines.
Did you get the original pic off a website? Perhaps you could ask the owner for ideas?

Working out the whole text in a circle thing was always a pain to me.
The following tutorial site explained it simply.
http://www.graphic-design.com/Photoshop/type_on_circle/circle_text.html

Have you tried layer styles?
There's some excellent ones online.
Here's just one you can download and try.
http://www.adobe.com/cfusion/exchange/index.cfm?event=extensionDetail&loc=en_us&extid=1044996

Mac's "Remove White" is a brilliant little plugin. Once you make that white background transparent, you can do whatever you want with that graphic.
Available here: http://www.photoshop-filters.com/html/macks.htm

If the black areas were on their own layer (no white) you could simply add a red 'color overlay' LAYER STYLE.

Some VERY small fonts show up better with anti-aliasing set at "none".

I don't teach. Best advice I can give is follow lots and lots of online tutorials.
You can get the layered .psd here:
http://www.savefile.com/files/2140978

Not much you can do with such a small pic.