OK, I'm embarrassed to admit that I have only just got the design of the new logo! The circle is the head of the body and the letter 'M' is the arms and body. The speech bubble is coming out of the head.

Doh! Can't believe I only just realised this. It's a lot cleverer that I thought! @TL We need to start using it.

I'm obviously not too good at reading logos as I didn't realise there was a bear in the Toblerone logo until recently. Now I've seen it I can't see anything else :-)