I don't know if it was used in computer iconography at that time but I would have expected a designer to see it that way regardless. It means the same thing as

I don't know if it was used in computer iconography at that time but I would have expected a designer to see it that way regardless. It means the same thing as the old Mac watch and is why MS used it in Windows. PS I miss that watch! It was way better than the beachball.