The wheel is the indicator that a program is in the middle of a task (it's Apple's version of the Windows hourglass). Is it spinning or just a still shot of the processing wheel? If it's spinning, it suggests an infinite loop that needs to be terminated. If a reset doesn't fix it, you may want to restore the phone, but if it's working fine otherwise, that's probably not necessary.
Hey. I found out it was appearing because of the Backgrounder update. I uninstalled Backgrounder now because I don't need it. The loading symbols are gone. Thanks for your quick responses! I appreciate it.
Do you have any recommendations for apps to download from installer or cydia?
I don't use Backgrounder and just found out today in another thread that those icons are there to show you that those processes are running in the background. They icons can be disabled with the lateste Backgrounder update.
Only use Cydia. Never even open Installer, it's buggy.
Cycorder (video recording), 123Spoof (changing your caller ID #), Qik (streaming live video), PdaNet (tethering), Mxtube (downloading Youtube videos), TuneWiki (song lyrics), SBSettings and toggles(very useful), Winterboard (theming), and FontSwap (changing system, lockscreen, and notes fonts).
HAha, that's funny. I noticed those there to after I updated background. I noticed them on the Mail and Phone apps. After a while i noticed it on Safari after i closed it and it disappeared. Then I realized it was a badge for backgrounder. Went into the settings and turned it off.