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Something with a 3D sphere. Laura whipped these up in Photoshop but you might need to alter them. You might want to do something with the font. Maybe see how the sphere looks if it is more behind the word. Maybe they could do something creative with the sphere and textures, like a 3D puzzle sphere or something. Maybe increase the font size. Maybe add glossy type effects.
If you look at Liferay's logo it's a square that contains other squares. Maybe we can have "stuff" coming out of our sphere.The sphere could become the favicon too.
Perhaps have the word "Portal" in a glossy bubble (as in the "Tube" in youTube) then having the "u" in front of it and the "4" behind it.
References
http://fontfeed.com/archives/the-logos-of-web-20/
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