According to your bug report:
NonfreeKernelModules: nvidia
ProcFB: 0 VGA16 VGA
The nvidia binary driver does not provide a true-colour framebuffer. 16-colors
is all you get.
** Changed in: plymouth (Ubuntu)
Status: New => Won't Fix
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ubuntu-logo theme lacks a 16-color logo for use with VGA16fb
https://bugs.launchpad.net/bugs/549264
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