Logo is fine and summary of challenger's inconsistancy
First, challenger claimed logo was not transparent which was obviously wrong.
Then, challenger claimed there should not be any white "M" shadow included in the logo (and took an old CMC logo as an example), which was false again.
It doesn't matter if the last logo provided by challenger is slightly different because the one used on their website and their social media (Twitter, medium, telegram) is clearly the one of the submission, thus representing the project widely.
So, the submission should be accepted.