In deed it is an ambiguous inscription and its owner and his opponent may interprete it according to the actual situation
Here are some more paveses of German Historica Museum Berlin:
Köln (Cologne) Inventory W 1055 15th century
http://www.dhm.de/datenbank/dhm.php?...fld_0=ak005369
A black&white Image of a Konstanz pavese depicting the coat of arms of the city of Konstanz with its white shield, with a black cross and the red top 15th century.
http://www.dhm.de/datenbank/dhm.php?...fld_0=AK005367
A Ravensburg pavese with a beaughtiful black castle or a fortified city gate 1446-1455.
http://www.dhm.de/datenbank/dhm.php?...fld_0=AK005366
A pavese from the St-George-brotherhood from Winterthur Switzerland 1446-1455.
http://www.dhm.de/datenbank/dhm.php?...fld_0=AK005370
A small pavese depicting St George defeating a dragon from Nuremberg ca 1480
http://www.dhm.de/datenbank/dhm.php?...fld_0=AK005377
A very nice Bohemian pavese with a floral ornaments 1446-1455.
http://www.dhm.de/datenbank/dhm.php?...fld_0=AK005371
I guess the Museum has dated the shields in categories as some of the dates are repeatedly mentioned.