A new flag for Australia?

Recently the Sydney Morning Herald invited designs for a new Australian Flag

I was interested in this because I don't think the Union Jack part of the current flag holds much meaning for the majority of Australians. Not even for myself, who was born of the United Kingdom. Here's the current flag, for the unfamiliar:


So, what was suggested? Here's my favourite, designed by North Sullivan:

North Sullivan removed the Union Jack, but kept the "original stars and layout, balancing that with a larger Federation Star acknowledging our Green and Gold colours".

There were other very good (or at least interesting) designs. But here's a design that made my jaw drop, designed by Tony Eames:

Tony ironically suggests a more Americanised flag with the Southern Cross replacing the Union Jack but with the stripes of the US flag filling up the rest of the space. As he says: "Having loosened the colonial apron strings that bound us to mother England, John Howard's Australia is energetically forging a new destiny for itself as America's eager Deputy Sheriff in the region and beyond and our flag should be amended to reflect this new reality."

Something is wrong with this, very wrong!