I didn't intend to scare people with my post, just explaining what IMHO is the reasoning behind the OOT dvd release. Lucas has to reaffirm his ownership of the original version of Star Wars that he disowned when he said "it doesn't really exist." It's simply a business decision.
I'm not a lawyer but I do have some knowledge of copywrite law. All fan edits are in violation of copywrite. Even if you own the original source. Technically you could be sued for doing it. Realistically, who's going to bother suing one guy for tinkering? There really isn't any damages or loss of income incurred. And the cost of the lawyers would be far more than any puny judgement you could get against a fan editor. Not to mention the cost of bad publicity from suing your own fans.
If you distribute your fan edit though, that's a whole nother ball o wax.
It's unlikely that LFL will try and shut down this forum. They've already learned from past experience it's not wise to upset fans - especially on the internet where the fans can tell the whole world about it. If it were me running this forum, I would remove the Star Wars torrents thread (to avoid any niteshdw type incident) and have a disclaimer that the site is not official or authorized by LucasFilm. As far as the XO project goes, as long as it's promoted as a scholarly attempt at restoring and preserving a Laserdisc copy of Star Wars for posterity, and is not distributed to the public, you're probably not going to be sued.