Quinn DelHoyo, via Twitter, commented on this issue. When asked if the wings would change, he replied, "Nope. Would have if we could have."
Here is a comparison of the level 100 and level 400 wings.
The level 100's are at the top, level 400's at the bottom.
Do you see a problem here? Is it the fact that you have to have a level 100 and a level 400 in the same lobby to even tell the difference?
You are correct.
Epic, please change this. Why do we get rewarded with the same wings as the level 100 wings? That's not cool.
Let this be a lesson to everyone: do not go past red re-up, or you will forever be stuck with the first level 100 wings. For eternity. =(