I like it

I think it is interesting to see the Chatham Dockyard Flag in gold, and I think the overall look is quite sleek (if perhaps a little reminiscent of a gulf carrier).
Ultimately, LOCOG (and the associated sponsors) appear to have taken a policy decision not to run with typical expressions of "Britishness" in their branding, and gone with somewhat voguish, very "London" elements - from the logo through to tie-ins such as this. The merits of that can be argued (I don't see it as a bad thing), but it is guaranteed to leave lots of people disappointed.
Heathrow Express though? I don't think we can blame the Olympics crowd for that - good grief!