The new London 2012 logo was recently unveiled. Oh my God it’s hideous.
I think the good fellow at ideapark puts it best:
The graphic designer(s) responsible for the new London 2012 Olympic games logo should be dragged out of their office(s) and drowned in the same vat of 80’s nostalgia they drew from when creating their abomination. Oh. My. God. It’s ugly. –ideapark » London calling. Tell them I’m busy.
The best analysis of the logo 
I’ve read was provided by this fellow. I took one look at this logo, turned to MindTouch’s designer and asked him: “What does the logo read, ‘ZOR’“? Apparently the intention is that the community create their own variation of the logo to demonstrate their Olympic Spirit, Jingoism, and Nationalism. Personally, I’m convinced this is a thinly veiled attempt to force us all to celebrate Zor. Dude, I like Robotech too, but come on.
Aaron Fulkerson 
Yes it does read "Zor". The Olympics celebrate filthy mysticism. We should all get on our knees and pray for mercy.