Rumor: the B in “b_log” actually means _beta.

Original text of this post:

You know you’ve been exposed to too many Web 2.0 applications when you start to think the B in the logo is for “beta”. I was like WTF, are they making “beta” to be all of their logo now?

And yes, I know about it being a shortened version of “weblog”, likely coming from the pun “we blog”.