Did Hotmail get a new Favicon?

While adding a new account to my Hotmail account this morning, I noticed something new in the address bar ... Hotmail was using a favicon that looked just like Windows Live Mail desktop's icon!

The main Hotmail inbox page still has the old XP-style Windows logo as its favicon, but it's interesting to see the new Live Mail icon in the settings pages.  Could this point towards changes in preparation for Windows Live Wave 4?  If so, can someone please tell Microsoft that I'd really like Hotmail to group messages by conversation like Outlook 2010 does?  I know Outlook + Hotmail = Better Together, but I'd really like that feature in Hotmail (and in Live Mail desktop too, by the way :) ).

Thoughts? @reply me on Twitter.