I know the guy who does the covers for most of wizard's books. Henry Higgenbotham. I haven't talked with him much about this cover. He told me when he got the job, and what some of his early ideas were, but I hadn't talked to him about it since. He told me he wanted to do something "darker" than the MMI. Knowing his style, I doubt it is a creature at all. I think it is, like the other covers, just a design.
Note the gear-like designs at the top and bottom. The double-hinge appearance of the central image. That red glow in the middle is probably supposed to be an eye, much like the eye on the MMI.
I like it better than the MMI