I like the ultralight; nice touch. I think it symbolizes freedom, and considering things from a higher perspective (which a moderator must needs do).
The volcano, of course, symbolizes creative energy (as in posting useful replies).
Obviously, from the pose, although his head may be in the clouds, his feet are firmly on the ground.
From the rank and awards, you know he has earned this position.
Just the right touch of gray in the beard to illustrate wisdom...
Talk about perfection in a nutshell!
Personally I might have rather used a bb.com
logo on the hat...