As strange as it sounds,
it can be a custom logo or custom font based on Caslon OldFace Italic
http://new.myfonts.com/fonts/bitstream/caslon-old-face/italic/

See the similarities of E,W,O,R and the upper part of N,Y,K to corresponding Caslon glyphs

That was designed by Ed Benguiat. I assisted in some of the preliminary digital work, but Ed decided he wanted to cut the final art out of film himself.

James