I do apologize for the overall quality, as I could not find a better image anywhere online, and so that was taken with my cell phone off my TV.
But to the Crux of the matter, does the mages guild symbol, symbolize the Aurbis, the Universe? The eye in the center seems to represent magnus, the et'ada who left magicka in nirn, so the Guilds appreciation of his unwilling sacrifice is obvious.
The Eye is within a Sun, the Sun being Magnus, again. And the 'rays' of the sun are numbered at eight, the original number of divines.
And toward the outer rim of the circle are, surprise, surprise, Sixteen half-diamonds, and coincidently there are Sixteen Daedra Princes.
Am I reading to much into this?