Since Lucas has already said he has no problem with--and even finds interesting--fan edits of the prequels, I hardly consider fan edits a concern, at least for Star Wars films. If other directors squawk, we'll cross that bridge when we come to it.

As far as people requesting materials that can be purchased at retail, such as the colorized King Kong you mention, I don't endorse that behavior and would promptly lock any thread with such a request and ban any members offering it, whether they ask for money or not.

As long as fan edits remain a purely creative exercise that brings the community together, I won't interfere with the process.