Wrote a psychedelic song a while back with my old band and re-wrote it completely to fit an acoustic setting. Anyway soon my new band will start rehearsing and was wondoring which version to teach them. So basically I'm asking which is better; the original or the acoustic? (they're short songs btw so won't take much time)

original - http://www.youtube.com/watch?v=Ydri_zAHwbA
acoustic - http://www.youtube.com/watch?v=8Ut2t4LV2wo

Any feedback is appreciated and of course if theres anything you want me to take a look at C4C!

I liked the acoustic one better; IMO, it's just a lot easier for my head to comprehend the simpler sound of it as opposed to everything happening in the electric one Regardless, sweet song.
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I'd go with the acoustic, since it's straight chords, it's easier to add other instruments to. However, you did seem to speed up a bit during the acoustic recording, which would be easily rectified by a competent drummer. The clincher was how much stuff was going on in the original; all the instruments blended together and one couldn't be distinguished from another, the exact opposite of what you want when gigging.
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As much as I love the first one just for it's chaotic nature, and amount of effects going on, I think the acoustic song is a very solid building block on which to create a good solid song. The chords are decent, it all works well, and it could easily sound even better with some decent drums and bass. It's good, I like it.
To me, it all depends on what you're trying to do as a band. Both songs are great, but I could see more people liking the acoustic version. If you're looking for more mainstream success I'd say use the acoustic, while the other version is great, the psychedelic nature of it would turn off quite a few people. Good job on both though, personal I prefer the psychedelic version.