Favicon images are notoriously hard to clear from caches. Try accessing the site from a computer/browser which you've never used to access it before (or visit the favicon URL directly and hit ctrl-F5 to force refresh ). If you see the new favicon then you've done it correctly, but it might take a while for various caches to update.
Themes
CLOSED: Discussions about the Essential theme
This discussion has been locked so you can no longer reply to it.