Sorry but you're wrong. The trademark covers the word 'Moodle'. Thus if you wanted to, you could copy and sell 'Fordson' you just could not use the word 'Moodle' in any advertising etc. unless you were a Moodle Partner. Or not unless Chris trademarked the word 'Fordson', then you'd have to rename the theme to be able to advertise.
So if you could not then Moodle HQ would be in violation of GPLv3 which permits commercial use of the code and anybody imposing a more restrictive licence / use on what you get -> www.gnu.org/licenses/gpl-faq.html#DoesTheGPLAllowMoney. So the trademark would in effect remove the 'selling' right, so it can't do that but it can impose other restrictions that fall outside what GPLv3 covers in terms of elements.
I at least this is my interpretation of the trademark based upon years of experience and past questions to MHQ.
Note: Even though I'm a Software Engineer and more than a Coder, I'm not a Lawyer!