Take a look at http://www.kickstarter.com.
When you hover over their logo, the image lights up. Is this effect doable without using a different image on hover?
You could use this CSS code which makes lighting up a smoother transition than just instantly bright. Techpp.com and Techlivewire.com also use this same css or one similar to it on their frontpage featured sections. I could not get CSS to post on here since stackoverflow kept giving me errors so I put it in a pastie. http://paste2.org/1L9H2XsF