Charles,
I'll preface by saying that I'd be the first to snap up such hoods if I needed them and were convinced of the quality and workmanship. I suspect that counsel to Campagnolo would advise his client to pursue action against the maker of these reproductions and enjoin the use of the Campagnolo name. The concern might be not that there is a misuse of the trademark, but rather that the product might fail causing a rider to slip off the hoods ( as they split or slip), and claim serious injury. Campagnolo in this case has no control over the quality and construction over these hoods. Their lawyers might well tell them that they could be exposed to lawsuits (costly, even when you win), and damages, on the theory that they negligently allowed their logo to be used on a substandard product.
Clearly the economic loss to Campagnolo from the sale of "reproduction" hoods is minimal if it exists at all. The issue will be exposure to lawsuits for product liability.
Additionally, Campagnolo's counsel may have the attitude that the trademark must be vigorously defended everywhere, and against any unauthorized user. It seems that Campy's recent clothing marketing strategy reflects this approach, as they have severely restricted licensing in that area.
Personally, I hope they look the other way. I have two pair of 'old logo' hoods purchased from BC, but will need another few before I go the way of gum rubber hoods.
Regards,
Charles "Carlo" Carr, New Orleans, LA
(Spent five years mired in the bog of asbestos litigation, and am now thoroughly jaded.)