No, there is no new contest. Rather it has been noted that many of the picture submitted were composed very well and would make nice loading screens. Naughty asked Zepplin to take a look at the screen shots and suggested many would be good candidates. Since many of the old loading screens have been up for a long time, it would be nice to refresh them with some new ones. Zep kindly responded that it was a great idea. It is up to the authors of the screen shots to make the needed trimmings such as making sure they are the correct screen resolution, have the authors signature, add the word loading etc.
IMHO, it would be a great idea to cycle new loading screens into the game every few months. It would be a good moral booster not to mention an opportunity for Gravity to highlight items available in the item mall such as costumes etc.
Thats the correct answer. Ok, now get back to the shed =)