In File - Page Setup the user cannot select an alternate logo file. Any bmp file in the folder: C:\Program Files (x86)\Bentley\Engineering\Limcon\Program ought to be available.
Furthermore, if the option to show the logo is turned off, the logo still displays on reports.
In some cases an alternate file can be selected, but the selected file is not used on reports right away (File - Print Preview or File - Print).In the latter case, restarting the program can resolve the issue.
Changing logs works as designed in Microstran.