"Elowen" looks (and sounds) like a tacky elaboration of a person's initials... L.O.N.-- Lucille Ophelia Neville, for explanation's sake. I find it neither beautiful nor even moderate... it truly is the definition of cheap, unprofessional, pompous, and infantile. In the United States it would appear terribly pretentious and perhaps even "kre8tiv"... definite trendy/fad-name prospect visible.
This is a personal favorite of mine. It is similar to the name Eowyn (from Lord of the Rings), yet I find it to be much more feminine. There are so many cute nicknames to go with it (Elle, Ellie, Winnie, Wendy). Definitely would like to use this name for a future baby girl!
Elowen is a pretty name, but beware of spelling it with two ls, because "Ellowen Deeowen" is a character in Salman Rushdie's novel, The Satanic Verses. Her name translates "L-O-N-D-O-N".