Hypothetically speaking. If I were to take their (OS) code and try and sell it to someone who actually believes I am a 1337 hacker, how much trouble would I be in?
Depends whether you tried to sell a license to the software, or the copyright to the software. The later you can't do, the buyer would have a fraud case against you.
The former is fine, as long as the license is the one that the software is publicly licensed under.
