Here are some of the ideas I've had so far (many pilfered and adapted from the awards provided by the USMC :P)
Marine Corps Expeditionary Medal [MCEM] - awarded to members of the Army and Navy for joining up with the Marine Corps and serving within the in-game guild for a period of at least 6 months. Conversely awarded to members of the Marine Corps for joining either the Army or the Navy and serving for a period of at least 6 months.
Logic: This recognizes existing VE members for joining up with those of us that are in TOR and encourages recruits we get in-game to join the Army and Navy, and hopefully help to drive up membership in those divisions.
Marine Corps Good Conduct Medal [GCM] - Awarded to members of the Marine Corps who have notably and consistently contributed to the positive atmosphere and community of the VEMC. (Possibly over some set period? 6months?)
Combat Action Ribbon [CAR] - Awarded to members for reaching some (high) level of PVP ranking - possibly something involving a mix of Warzone and world pvp? Unsure.
Eternity Vault Campaign Medal [EVCM] - for first successful completion of the Eternity Vault
Kragga's Palace Campaign Medal [KPCM] - for first successful completion of Kragga's Palace
Marine Corps Achievement Medal [AM] - for leveling one character all the way to 50
Marine Corps Commendation Medal [CM] - for leveling one character of each Imperial Advanced class to 50 (if these are on other servers, an officer must make a character on one of those other servers to directly observe the existence of the characters in question). (possibly switch this to just base classes instead of advanced classes? There are 4 base classes but 8 advanced classes - one can have up to 8 characters on a server, so this seems to jive, to my thinking)
Covert Action Award [CAA] - leveling a Republic character to 50 (possibly award pips/service stars for multiple republic characters? - this would be the only award for having republic characters. I'll probably level a few just to see the stories, myself :P)
Meritorious Unit Commendation [MUC] - for fire teams/squads/somethings (units :P) that distinguish themselves in some way that needs further definition but definitely sets them somehow above their peers.