Just chiming in to give some quick information:
Yes, I knew about Craigs idea here, just don't know the exact details yet (have asked him though and will hopefully get a reply).
This update is to give older customers a chance to get a 1GHz Pandora and produce some cashflow with refurbishing the older units (same thing I already did months with the upgrade offer on my shop).
According to him, some of his waiting preorder customers would be happy with a Classic Pandora, as they are mainly interested in playing classic emulation.
So some of these units will be used for classic preorders (and I sincerely hope only those who are fine with that).
I do not have the information yet how that will be handled, but most probably, the upgrade will either directly happen via my shop (well, anyone interested can do that already) or the money will be sent directly to me and I'll fulfill the order (that's how he handled it with some upgrade payments in December).
You are welcome to do the upgrade directly using www.dragonbox.de, I can assure you that will work
You might have your unit, but then the original company will be sold off - or even given to the person who filed for bankruptcy if the debt is big enough and they accept it as a valid form of credit (e.g. one of the many investors, say, who I don't think got quite such a good deal as even the customers still waiting). Sure, it MIGHT be ED that picks up what's left of the company and the assets (and even a trademark is considered a saleable asset) but it might not. And then you're on an unsupported console where anything from the website to the software archives to historical firmwares might come under the copyright of whoever bought up the remains of the assets (which might be a rival project, even, and nothing to do with ED or Craig). And they would have good legal standing to cause quite a lot of hassle in terms of preventing downloads, relicensing updates, etc.
OP Ltd. doesn't have a trademark on the name, OP GmbH has the trademark on the name and logo in Germany.
The website including all domains, etc. is owned by OP GmbH.
The PCB Design is owned by Michael Weston and he licensed it to OP GmbH to continue the production.
The case design is owned by DaveC and he licensed it to OP GmbH to continue the production.
All the usable parts OP Ltd. still owned have been bought off by OP GmbH end of 2011.
So besides some broken PCBs and returned broken Pandoras, there shouldn't be anything to get from OP Ltd. right now.
Your scenario of a third-party company getting licenses, etc. from OP Ltd. so that the website, the production, etc. will stop or you have an unsupported console will not happen though.