Here's an alternative seal for Miskatonic University that I came up with. Like everything else here it's licensed under a Creative Commons Attribution-Noncommercial-Share Alike 3.0 United States License, the details of which you can find by clicking on the CC logo at the bottom of the page. Just click on the sample above for the full sized image.
Update: If you came here via Google you can find a revised and cleaned-up version of this seal
over here.