I reckon they were going to go with a new logo (those icons displayed previously on the screen), realised it would be unpopular, so made all the new icons part of the build-up to this new slogan
I was told it was some link to the Colleage/Uni... at the last few home games it's been mixed with other images such as the Phoenix, one of the pillars, a different elephant design amongst 1 or 2 others. Not sure how true that is though.
I don't think its about the badge anymore. I saw some adverts near Morrisons in Binley with the elephant and that on it, and underneath it said 'Season Tickets on sales 10-3-12' I just think its an ad campaign for next season