Control Layout Opinions Requested

[Jabba]

I've been playing around with Adobe Illustrator and have come up with this layout for my new control panel. Do you guys see any problems with the placement/layout of the controls? Also, what do you think of the Blue (P1) vs Red theme (P2)? Should I just stick with Red and White buttons instead?

BTW: This is still a rough draft and needs top be tweaked. The words Trackball, Spinner, etc will not be on the final layout. I am also thinking of tossing the Admin buttons on the bottom. Could probably just use a Sihift button with the IPAC. The Mouse buttons will be driven from P1's butons as PaigeOliver suggested.

Thanks in advance for your feedback!

Edit: Resized Picture.

[pointdablame]

I wouldn't put that Exit button under the P1 controls... you'll be cursing yourself when you accidentally hit that bad boy.