The chap is waving his scarf in a circular motion around his head. I may be talking complete rubbish here but perhaps the concept was to have the scarf encircling the logo, but that wasn't quite realised in the execution? Nice idea nonetheless though.
A quick thought that came to mind as I saw that ident fade into the
opening sequence... a missed opportunity to create a special BBC One ident in the exact style of said title sequence, that could have faded seamlessly into it? A
rough and ready video sketch of what came to mind:
Obviously additional animation would be needed to avoid the bad looping. But you get the idea.