UPDATE: Javi pointed me to this little rebuttal of an article. Okay okay. But I still think the original is valid. If you try to group the similar logo styles together and count them as one, Pepsi still has more changes. 4-5 versus Coke's 2. Was the 1985 "Coke" really a replacement for the full Coca Cola name/logo? I still think Coke wins.