While it isn't too flashy, the newly-discovered logo likely shows what Google will call its music service.
Google demonstrated its over-the-air music service at Google I/O last month by impressively having an engineer purchase a song through an Android Market web page and having it almost instantly pushed to an Android device over 3G.
Google also purchased Simplify Media, a former iPhone App company, which will allow you to move all of your non-DRM'ed music into Google's Cloud for use on any Android devices. This will likely also fit under the Google 'music' umbrella.
Apple (aapl) is widely expected to release a similar service for its market leading iTunes at next week's WWDC.
Video of Android's push music service below:
<!-- more -->Music starts at three minutes.
Update: Proud mother, Nancy Rosen writes in:
My fifteen year-old son made this discovery and submitted the info to Tech Crunch, his name is Logan Rosen.