misterbonkers - well, the title got attention - I'm not saying I agree with it!
One of the key ideas of an "H" is to give vertical reference by having contrasting colours between the "H" and its background. Clearly the "AP" logo achieves that, but what if you are landing in grotty weather and relying on a "watch" logo at E34 - is there sufficient contrast between the watch and its background? I don't know. I'm glad to hear that all replies so far are positive.
I assume they had to get FAA clearance for this, given it's a public use heliport and they have removed the (I assume required) "H" and circle? Would the UK CAA allowing it? What if offshore rigs had their "H" replaced by the oil company logo, would that make any difference?