That's not too bad an attempt at all, hard subject to get right as Bernie said - yellow is always hard to avoid blowing at the best of times, combined with black and your asking for trouble
Flash might very well help, even if it's used to fill in. What aperture/shutter speed setting did you use? I take it it is a crop as well, doesn't appear to have lost too much detail or sharpness from the crop, so well done there as well. My only criticism is that there is a lack of detail in the black sections of the Wasp, and that detracts from the shot overall, but still a very fine effort considering.
Might I suggest the following:
Get a set of tubes and use them with the 70-200, with the zoom set to 70mm. This should give you 1:1, which is fine for most subjects imho. Said tubes with a 50mm lens will give you even higher magnifications
Use flash for fill, and to also help freeze the subject. You could try AV mode, and use fill flash, but you'll probably need something like f5.6 or f8, and ISO 800 or so, depending on the lighting conditions. It's doable, get out there and experiment 
Dave