The new name is the old name: the Tulsa WNBA franchise will be known as the Tulsa Shock, beating out the other suggested names of Fire and Tempo.
The new colors are red, black, and gold. From the Tulsa Shock website:
After months of anticipation, the new WNBA Tulsa franchise officially unveiled its identity today with the announcement of the new team name, logo and colors. The new franchise will be named the Tulsa Shock and its colors black, red and gold. The logo features a basketball on top of “Tulsa Shock” with a lightning bolt through it. The “Tulsa” lettering has an Art Deco inspiration which was influenced by the city’s rich history in Art Deco architecture.
Compare this to the former logo:
There are some differences, particular along the name. You can see the Art Deco style in the new logo.
Next up: the uniforms. I like the colors, however. Red, black, and gold are really strong colors.