Outsider, I also like the design though it goes against the current "keep it simple stupid" mantra  in "branding."
-- interesting that with the river and the mountains, it is somewhat reminiscent of the UO Great Seal with Deady's Latin  "mind rules matter"."  (Is this a coincidence?)  That was the logo for all  UO academic material, including academic letterheads, until it was forcibly replaced by the "O" representing, appropriately, nothing but  UO athletic facilities.  Fortunately  however, building signs around campus still have the old Oregon logo, though the business school does have a monster  "O" on the front.