Its sound fireworks called Mascleta (https://en.wikipedia.org/wiki/Mascletà), part of the fesitivity of the Fallas and history of Valencia as a city. They are also part of UNESCO's Intangible Cultural Heritage and one of the biggest festivities in the whole world.
https://en.wikipedia.org/wiki/Falles
This year Fallas' just ended yesterday BTW.
The thing here is that symbol is only going to be used is an special ocassion this year, the old modern symbol its the still one in used and will be until the modernised it again a little in the future. They will never going to get rid of the valencian colours below the bat. Also DC already tried the same shit in 2014 with the logo looking like always.
Thank you for the context. In which case I'm fully on Valencia's side and this whole thing is ridiculous.