I haven't used that stuff on a bike, but I have used it to strip the paint off a door and its pretty intense. The fumes were so bad that I got a bit light headed and I was doing it outside. It'll definitely take off that logo, but it might be a bit too much as well. Just so you know. If you use it, let us know how it goes.
Alright guys, it didn't turn out so well, luckily, instead of starting off big and trying to remove the huge bianchi logo, i tried removing the PISTA and the no brakes w/ the exclamation mark thing. YEAHH, it didn't go so well haha, i'll post up some pics tomorrow