It seems Google has fed up with its three years old multi colored icon and looking for something more stylish and attractive n. We are seeing some reports from users reporting that Google is testing its complete blue icon and soon brought into limelight.
You can see the image to the right show off the new all blue Google Favicon at google.com/images/google_favicon_128.png to prove this is something Google is hosting.
Although it looks as the present colored fevicon but still so much different than the earlier one as it’s having complete blue color. Check out the zoomed colored fevicon.
Forum discussion at Google Blogoscoped Forums.