I don't think this was planned since the begining, so I just throw it as food for thought, but the lastest development that occured on the R10 saw the addition of a midwing under the rear wing, and a significant amount of the body work over the exhausts has been cut away
Pic from
Mulsanne's corner:
Although this update has been analysed to be purely aerodynamical, it is difficult to think exposing the bottom exhaust like that has no effect on their temperature, and on the pressure building behind them. It is pure speculation, but I would suggest that the ovoïd shape ensures a larger contact area with the descending airflow, thus providing better cooling of the exhaust tip than it would have been with a round one.
(obviously that observation is only relevant in this very case where the above bodywork has been cut away tho)
Also, I have noticed the new Maserati Gran Turismo "S" has oval exhaust tips too. In this case it has probably all to do with style rather than efficiency, but for sure those tips must be of the same size than the doubled rounded ones of the original version, so this is an interesting geometry choice nontheless. Note that it seems there is a sort of splitter in the Maserati's exhaust.
(or are my eyes deceived?) Any idea of what it might be?