Interpretation #1:
Is it me or does it look like one point of the star is looking to escape?
Actually, all points are looking to escape the
A.
The rising star would be for Louisville and Rutgers - trajectory is way up since they'll get out soon.
The other upward star would be for Temple and Navy, as I guess they move into more profitable situations from where they were.
The level to slightly downward star is for the CUSA imports - they move into a similiar conference, maybe a little better initially, but much less than they hoped for once the playoff system kicks in.
The slightly downward star would be for Cinci and USF, they take a hit, but still have some hope the B12 will save them.
That leaves the entirely downward star for UConn, symbolizing their shattered hopes and dreams.
Interpretation #2:
I like how the logo implies that the conference is already self destructing.
It's not actually a star at all, but a comet or meteor crashing down to earth.
[Note: I had to google to figure out what teams were coming in the conference to assign to the various star points. Typing "AAC" didn't lead to a result having to do with the conference until the 8th page, which only contained one article - a local paper note that SMUs conference name would be changing. For comparison, a search for "ACC" provides the official website in the very first result, followed by the conference wiki page.]