Oh yeah, complete shite.
I wonder if Rolex tried to sue them for making absolute monstrosities out of their watches, but couldn't find legal precedence.
There's a fair amount of legal wrangling happening in the US right now about modding electronics. Rolex is making a similar argument that other manufacturers are making that opening up their kit = IP infringement. Techdirt's coverage of it is pretty good if you want to do some reading.
Gash watches but that is interesting and the case should be worth following.