Eternal Champions: Challenge from the Darkside
Though not really a Sega logo, the intro for Sega's "Deep Water" is well worth noting. Quick note: There are only two other games in all of Sega's library that sport the Deep Water logo: X-Perts and Duke Nukem 3D.
Click the above shot of the logo to watch it. Note: You'll need the most recent Divx codec to watch the video.
This video can also be watched at YouTube.

Advanced Dungeons and Dragons: Eye of the Beholder, BC Racers, Battle Corps, Battle Frenzy, Crime Patrol, Earthworm Jim: Special Edition, Ecco: Tides of Time, Eternal Champions: Challenge from the Dark Side, Formula One World Championship: Beyond the Limit, Game Can Pack Vol 1/Vol 2, Joe Montana’s NFL Football, Mansion of Hidden Souls, Mega CD, Mega CD 2- Modded, NFL’s Greatest: San Francisco vs. Dallas, Panic, Sega 5 in 1, Sega CD, Surgical Strike, Tomcat Alley, Mega CD(JP), Mega CD 2(JP), Sega CD(US), Sega CD 2(US), Mega CD(EU), Mega CD 2(EU)

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