Kind of looks like something collapsing onto itself… and at a cost of $800,000 it must seem to a lot of Brits to sum up well the modern "Olympic experience". One other observation, I would be willing to bet that we will see some very creative reconfigurations of the logo in the years to come leading up to the actual games. Kinda like logo mashups, if you will.
Having looked at this for a while now, and fully understanding the academic arguments about branding and segementation that the designers have put forward, well I can’t help but think it looks like crap and is giving me a headache. BTW, Beijing’s logo rocks… makes me want to go.