I don't know about the degree bit, I didn't even take lit. at college and even I knew that "draconis" was something to do with dragons and that "ego" was something to do with a person/me. I think most people would at least get the draconis bit. You don't need to understand the litteral translation to understand the meaning. Maybe that's just me

BTW: BlackHawk is your avatar of a spacewolf/something similar? good paint-job if it is