Find the Hidden “Racism”

Iran is threatening to boycott the 2012 Olympics in London. Why? Because it claims the logo for the 2012 games is “racist.” Here is the logo; see whether you can figure out what Iran is complaining about. I couldn’t:
Give up? Here is the explanation:

If you’re reading vertically rather than horizontally and think an irregular pentagon resembles the letter “I” then you can sort of make out “zion” in the logo.

Iran says its boycott threat is a matter of principle:

“There is no doubt that negligence of the issue from your side may affect the presence of some countries in the games, especially Iran, which abides by commitment to the values and principles,” Afsharzadeh said in the letter to Rogge.

My interpretation is that this is typical pushing of the envelope by Muslim extremists. The more extreme the instances in which they can browbeat others into modifying their behavior, the better. The current attack on the Olympic logo is reminiscent of the claim that Muslim cashiers can’t scan the bar code on a package of bacon, or a Muslim taxi driver’s refusal to carry passengers who have alcohol in their baggage.
Will it work this time? So far, the International Olympic Committee is holding firm:

The IOC rejected the complaint. “Our response is as follows: The London 2012 logo represents the figure 2012, nothing else,” a spokesman said.