I hear what you mean. I just can't think of anything else it could be besides the dip. I've tried finding a way to get the badges back on once removed (i.e. remove them, paint properly, re-badge), and cannot find anything useful out there.
And like I said it looks like the badges are peeling already. You now have me questioning it though, as I am moving to Brisbane soon and it will be more exposed to heat there than in Newcastle. I will do further research!
I did see the flaming in that exhaust thread, toasty. Meh wouldn't worry too much about it.