Yes, we're aware of that image and have been for the last ten years. It was featured in an issue of the Popular Mechanics magazine in September 1998, accompanied by an article discussing a Titanic replica.
Might be a good idea to read that article the link goes to. There have been a lot of proposals for replicas out there. You seldom ever hear from any of it's champions today, and some haven't been heard from in ages.
It would be a cool idea, but given the cost involved and what people demand in this day and age, a new sea going Titanic is just a pipe dream. And I, for one, have no desire to sail on a new Titanic replete with modern amenities like casinos, discos and drunks stumbling around all hours of the night like you get on cruise ships these days.
The banner ad for the ice carving contest has to be one of the most distasteful and tacky things I've seen in a while. Would there be an outcry if they baked a cake of the WTC with a marshmallow airplane flying into it?! Yes. But this...no. It's a joke to people.