As far as longevity goes, tOSU have used the block O with changes in how the colors have been arranged for 64 years, and is one of the most recognizable brands in the world. Iconic.
Yeah yeah I know, we hate the Worthless Nuts. But, we want our university to be successful, sometimes you have to look at what's worked for other brands, including our rivals.
In other words, DON'T MESS WITH IT FOR AWHILE.
If ever.