I was trying to think of alternatives, thought "maybe a more complex symbol for one of the uses, like ..?", then wondered about a potential edge case. Really, I'm just thinking of the parsing algorithm---or, rather, lexing. If . was defined as the ssyntax is, would a..b expand into ((a) b)? Without spaces, it's fairly clear that certain arguments are "empty", since it could conceivably be tokenized as two .s. But a++b probably wouldn't tokenize to two +s. Suppose both . and .. were defined; how would a..b be resolved? Longest-operator-first?
f:g vs :syms
Could always go with another symbol for function composition. | comes to mind, but it's more like "reverse compose" at a Unix shell. On the other hand, as far as the function composition operator is concerned, I've seen mathematicians define it both ways---$(f \circ g)(x) = f(g(x))$ and $(f \circ g)(x) = g(f(x))$. No technical reason you couldn't use a pipe, just conventional.