It appears they dropped the original submission. Also, the rollout presentation is triggering seizures.
The organizers of the event have, rather bravely but perversely, opened up their website for individuals to design their own logos. Many of which are substantially better than the one that was chosen.
The BBC also has been soliciting its patrons for new designs. The third one in the gallery is my favorite.
Oh, and did we mention that the organizing committee paid 400,000 pounds for a consulting group to develop the chosen design?