Love the cipher and especially love this rendition of the Imperial State Crown. I think over time there won't be any association in anyone's mind with other, commercial, ciphers, as the key is the crown. No matter what the initials looks like, it's the crown atop them that symbolizes the Monarchy.
The style of the initials, to me, look elegant but masculine, and fit well with the style of contemporary times.
I was going to comment that KCIII is a man who doesn't waste time. On the other hand, he's had considerable time to think of these things, perhaps. (I imagine him as a young man, inventing and practicing his royal cipher, like the rest of us worked on defining ourselves by developing and refining our signatures during class, on our PeeChees. I know, does anyone know what a PeeChee is these days?)