I had heard that our flag was getting a do-over, but that's been a rumour for the last decade with nothing to show for it.
Oh, and...
The bright star on the left is, probably, Alpha Centauri.
Actually, that's the Federation Star - it has seven points, one representing each of the six states at the time of Federation and one for all of the internal and external territories. Nothing as glamorous as Alpha Centauri, I'm afraid.
Dave