Seems to me that:

1) Ray Hunt invented the deep v hull.

2) Harry Schoell invented the steplft principal and patented it as a hull with a single step. Also patented the term "steplift".

3) Ray Hunt designed the V20 and also utilized the concept of steps in his design.

4) The decal pays homage to Harry Schoell's patent because Wellcraft was marketing the V20 as a "steplift".

That's the way I see it, based on this thread. Intellectual property attorney that I am not.