That bird is cool as a throwback logo. It's good on its own, but with a minor modern cleanup with sharper retouched lines and deeper/cleaner colors and lines might make it look pretty tight. I would imagine it would be up to the folks on this board and the general student/alumni population to raise this or any other secondary logo to a cult-like underground logo (basic rule of economics, supply and demand.) I like the official logos, but the idea having a rogue throwback logo that gains traction would be cool. Being a Patriots guy myself, the new logo they unveiled is great, but it is also cool to have the throwback logo (kind of like a badge of honor for the true fan.)
Also, dug this up from Miami...and I like the one that Zephyr Hats did for their Miami Z-Line Hats with the windfunnel duck combo. But keeping that LU one is like Miami's Throwback. Here's the link, because I don't know what your guy's legal responsibilities are for possible trademarked images:
http://www.sportslogos.net/images/Colle ... i_2536.gif