The pixellation around the letters is probably just an artifact of jpeg optimization. Starting with an image with clean letters and doing a jpeg optimization thing (reduction of quality for file-size reduction) I experimented and came up with this:
The original here was clear, the pixellation appeared in the adjusted image.
So where does that leave us? Part of my above argument is invalid. There are still quite a few other things, though, that indicate to me personally that the Kenyan one seems to be the fake:
* The Republic of Kenya issue.
* The fact that a real live David Bomford says it's his Australian cert.
* Having an address for D J Bomford in Adelaide (one of only 2 Bomfords in the Adelaide phone book).
* The fact that nobody has even claimed to be able to produce a hard copy of the Kenyan one.
* The Australian price apparently appearing on both certificates.
* The fact that the Kenya seal is illegible and arguably not a seal at all.
* The fact that the Australian seal includes the readable words, "PRINCIPAL REGISTRAR'S OFFICE, SOUTH AUSTRALIA" and the identifiable seal of the Australian government - but a seal which was probably not easy to come by as it's a slight variation that seems to appear nowhere on the web.
* And my recollection (hopefully accurate) that some freeper earlier in this thread stated that he had been able to confirm Bomford's certificate had been on the internet for a couple of years, whereas all evidence is that the Kenya one only appeared this week.
Does this mean I think Obama's legit? No. But (in my opinion) neither does this Kenyan certificate appear to be.
In that sense, I guess the two go together after all.