Around the time of the iOS 9 release (or so), Apple changed some design and app launch guidelines that removed the need for launch images. What is used now is called 'Storyboard Launch Screen'. With this new feature, there are two different launch screens, one for iPad and one for iPhone. This feature simply pulls the colors you are already using from the 'Customizations' settings in your Mag+ Designd Publish portal and will support all the different color formats that can be entered there. So basically what shows now is a gradient screen of subtle colors (depending on what you chose) as opposed to a customized launch image.
You can take a look at iOS - How to Customize Your App's Look and Feel under the 'Storyboard Launch Screen' section for more on this.