Yes it is definitely a sign. I believe the Watchtower exists for the purpose of preventing people from accepting the New Covenant and avoiding condemnation. (The terms testament and covenant are interchangeable in the bible....same greek word)
What better way to prevent this than by doing away with its name? The enemy would have people believe that the New Covenant (a literal contract with God) was only for 144,00 people who lived long ago.... not for YOU. They say it was for rulership positions in the coming Kingdom. That's a lie from Hell.
Jesus made this clear in Matt 26: 27 - And taking a cup, he offered thanks and gave it to them, saying: “Drink out of it, all of you, 28 for this means my blood of the covenant, which is to be poured out in behalf of many for forgiveness of sins". - NWT (.....not simply rulership positions or earth / heaven destinations)
The terms old testament and new testament are appropriate because the root meaning of testament is covenant or contract. Both of the bibles' contracts with God that are described within it, allowed a person to avoid condemnation for their personal sins through the legal maneuver known as imputation. The death penalty was imputed onto someone or something else and the sinlessness of the scapegoat was imputed onto the sinner. Both biblical contracts work the same basic way; hence the WT would like to hide this fact about the primary purpose of the bible.
It has little to do with who gets to run the show after Jesus returns. It is of minor relative importance who makes it as the bride of Christ or the bride of Jehovah, or those that are "left over" in the earth after Armageddon.
What is of major friggin importance is whether or not a person will stand trial for their own sins or not. Many on that day will object and accuse Jesus of not holding up his end of the bargain. He will chillingly tell them "I never knew you"..... or, more literally; "I never had a contract with you to be your scapegoat.".