Not bad cumesoft, it even looks like a real icon 
The peoblem of making something with letters now, is that it should relate to the logo somehow. So for that design the trem logo should be changed too 
Zybork's idea is not bad either, it just need some work done 
PS: i love ending sentences with smileys 
Thanks for your feedback. I was not aware that tremulous has a logo. Being that the case, I guess I'll have to stick to the traditional icons.
So, anyway, I decided not to wait and post the final icon and artwork. This may not be the definitive icon, because I never know when I'll get a better idea. So, here is the artwork:
http://pessoa.fct.unl.pt/22375/WWW/temp/tremicon20080111.zipAnd here is the icon (I call it final, because it is the functional icon file, not a final version of the icon):
http://pessoa.fct.unl.pt/22375/WWW/temp/tremicon_final.zipYou can test the icon by downloading and unzipping "tremicon_final.zip", and see the behaviour of tremulous.ico by right clicking and selecting "View->Tiles" (48x48 format), "View->Icons" (32x32 format) or "View->List" (16x16 format. When I made the icon, I took into account that the internal formats have to follow a specific order. In Windows 95/98/2000/NT you will not see the 48x48 format. Older icons often use the two smaller formats, but no problem there because the OS will assume the correct format (they are in the proper order).
Edit: The SAs of my university server are plain dumb and didn't warned the students about the migration. The migration took too long and was not made properly, as you can see by the new adresses.