I've created a little program, It can make new logo.bin with recovery update.zip for Mediatek based phones.
Update 11.03.2015 (version 1.6)
1) Added 32bit color depth support (MTK67xx platform)
2) Enchanced image size autodetect algorithm
3) Transited to .NET Framework 4.0.
Update 17.05.2014 (version 1.5.1)
1) Added vertical scrollbar in main window;
2) Double click on image opens it in default program;
3) Added full path edit in folder browser dialog.
Update 04.05.2014 (version 1.5)
1) Fixed bug with ignoring unknown blocks;
2) New image size changing dialog (now you can just scroll mouse wheel to get your image). So that awful dialog with three buttons is deprecated;
3) Now you can edit single image size right in created project;
4) Added new sizes to Sizes.txt (but who cares now, in consideration of second paragraph);
5) Added supportedRuntime. Now program can start in any .NET Framework veresion (starting from 2.0);
6) Added Portuguese (thanks to Typhus_).
7) Added Italian (thanks to bovirus (bovirusatgmailcom))
How to use:
1) Click "Create project".
2) Select your original logo.bin file and new project folder
3) Edit project images as you wish.
4) Click "Make" (new logo.bin and update.zip for recovery will be created)
5) Flash new logo.bin via any flashing tool or update.zip via recovery.
Where can I get logo.bin?
I know at least two ways to find your logo.bin.
1) The first and the easiest one is to get it from original flashtool firmware.
2) You can get it with "dd" command
dd if=/dev/logo of=/sdcard/logo.bin bs=3145728 count=1
Current languages are:
2) LogoBuilder UNPACKED
One more LogoBuilder program feature (kind of beta version)...
I've received a logo.bin file (from Freelander PD10), that has some different format. Its images are not packed at all. So here is the "Unpacked" version of LogoBuilder.
It does not make Update.zip and has only English language.
One more little program. It can make bootanimation.zip file from a GIF file.