Two reasons:
The stylized red NT letters are not really resolvable as a program icon, at least for its size on my high resolution screen, so I think the meaning of the letters will be lost on most people. It looks like a pointy red blob. Your Ninja throwing star log that still appears in the program isn't half bad, although it could probably use one or two more points if you upgrade it. A big juicy letter "N" as a program icon would be much easier for people to see and recognize.
Second reason, the logo looks a lot like the German eagle from Hitler's Third Reich. Unfortunately Hitler did hire some very good art deco graphic artists.
Anyway, take a vote or do a market test any way you want. I just wanted to mention it to help out.

green for hope and green pips
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