VW Phaeton with Bentley badge

I saw a strange thing yesterday.  I was walking through a parking lot and heard a loud growl behind me.  A car was passing me.  With my peripheral vision, I saw and recognized the front of a Phaeton.  The engine was louder than usual so I assumed it had a W12 engine.  (I don't think I've ever heard the sound of a W12 before.)

But as it passed me, I did a double take of the car's rear end.  It still said Phaeton on the back.  But instead of a VW logo dead center, there was a Bentley logo.  It looked almost exactly like this Photoshopped picture I found on the net.

Was this just a nod to the fact that Bentley Continental Flying Spurs and Phaetons were made at the same factory (until 2006)?  Or did this Phaeton actually have the twin turbocharged W12 of the Bentley?