From the Hornets' official website. I love the new shade of colors, though the new grin on the Hornet will take some getting used to. Nice to see they didn't change the old one too much though. The Fleur de Bee was awesome when they released it and still is awesome, and I'm loving the NOLA alternate logo as well.
The Hornets primary logo has been enhanced with the team’s new colors: a vibrant blue, a deeper, more passionate purple and Mardi Gras gold. In addition, the arms on the primary logo have been better proportioned, the ball channels have been made more accurate and "NOLA" now appears across the chest. The wordmark "New Orleans Hornets" includes more stylization linked to the wrought iron of New Orleans architecture.
The team jersey will still say New Orleans across the chest, not NOLA.