Let's hope flags are not a sign of aggression for aliens.

Actually it looks more like a big Venn diagram. 

And a mandala.

Remind me what a mandala is again?

<snip>The word Mandala (pronunciation mon- dah- lah) means "circle".  A Mandala represents wholeness, a cosmic diagram reminding us of our relation to infinity, extending beyond and within our bodies and minds.The mandala appears to us in all aspects of life, the Earth, the Sun, the Moon and more obviously the circles of life encompassing friends, family and communities.  Mandalas are circular designs symbolizing the notion that life is never ending. Many mandalas have spiritual significance to an individual or group of individuals. The Hindus were one of the first people to use a mandala as a spiritual tool, but the mandalas most individuals are familiar with, are ones made by Buddhists.</snip>

I'm struggling to see the connection between a single mandala circle and the seven interconnected circles. I wonder if the seven circles would be a better Olympics design than 5 circles. I never understood why five. 

Circles within a circle.

More here:  http://soutien67.free.fr/varies/mandalas%2001.htm

The interconnectedness of all §#@&%+¥ things, Your Mathiness!

Wow are those intricate!!

The rings of blue, black, yellow, red and green, which make up one of the most recognized symbols in the world, traditionally represent the five different areas of the world involved in the Olympics (North and South America are considered one area, along with Africa, Australia, Asia and Europe).

How is all of America considered one circle? Really?

The circle of illegal drug trade.

I suspect that is not what the Olympic committee was going for. ;)