Exciting news: I have finished the Fedora Badges Official Style Guide! I am still in the process of making a page on the Fedora Badges trac to post the style guide, templates and badge content for all to download. Hopefully this guide will prove to be a useful tool for designers and non designers alike to create new Fedora Badges :) Enjoy!
Note: Some of the guidelines contradict preexisting badges. This was inevitable because of the 100+ badges that were designed previous to this guide being created.