Visible crew/equipment: When Ray is in his new recording room, there's a shot of a white man near a TV, and the reflection of the camera is visible on the TV.
Visible crew/equipment: After Ray's been given the first offer to make an album, he starts to discuss with Oberon. On one of Ray's two lenses a white screen used for lighting is reflected, on the other Oberon's stand in (who looks nothing like him) is seen. (01:17:15)
Answer: I have looked at this about a dozen times, and I think it's just a shadow that resembles E.T. I can't imagine why it would have been done intentionally.
wizard_of_gore