Watch showing strange icon - two watches coming together - or watch+phone iOS 10.2

No... that's a different feature altogether.

Thank you for sharing, though, for those who don't know about that feature. It may be helpful.

Do you have a specific follow up question to this thread?

If you are worried about the animation the author shows then the responses above show you how to turn it off

If it is of no use to you then turn it off as instructed above.

Mine is a little different, I have an ultra but mine shows the watch faces touching face to face, but mine were purple also? I was concerned it was someone near hacking my watch????

My phone does this randomly. Not often but will just happen from time to time. Why?

if you're too lazy to read the whole thread at least read this page then you will know

Same!

See my reply to Sicaddy1

It’s still happening. Watch is 10.5 and the Ultra 8.

So turn it off til you need it.