Trademarks aren't necessarily the same issue as copyright, but in this case, it does seem like leaving them alone would be best, since they (Arch) assert that they haven't used it since 2007. What with asking the community to intervene, however, it's likely too late for that.

What kind of precedent does that set for other free software projects?

Although I disagree with you, I voted you up, because I think you brought up an important topic.