Steven Zahm@ Jody
The next version of Connections, in beta now, has completely revamped the image processing. Two important improvements include the removal of both third party libraries, TimThumb and class.upload.php, and responsive images with support for high density displays (retina).
This overhaul also includes one particular feature ideally suited for you situation. A new crop mode has been introduce (formally Ratio) which is perfect for logos … “Resize proportionally adjusting the size of scaled image so there are no margins added.” Put another the image will be scaled proportionally, it will not be stretched, to beta fit the dimensions entered without adding any margins (filler) at all.
Another nice change is that now when image size settings are changed, no longer do you have to reupload the image, it’ll be rescaled from the original and cached on demand.
If you’d like, you could run the beta. At this point I consider it production ready code … until I start in on the next major enhancements.