Today I saw an AdSense ad that had a Google logo in place of the 'Gooooogle', so it read 'Ads by [G]'... after refreshing a couple times I saw another version with a black 'Google' logo...
Screenshots here: http://www.ultralightsite.com/googAds.jpg

Is this new?

no man, sorry..

check this up :
http://blogoscoped.com/archive/2006-12-15-n33.html

k, thought I remembered something about that – but couldn't find it... thanks.

Can't Google get their head around the idea that if we choose to run text ads it might be because we don't want graphics there?