Well he does say that the selling of the keys from MSDN subscriptions is not allowed. This implies that it is not allowed as per forum rules/the law. You had just mentioned that it is allowed per forum rules and that to your knowledge it is not illegal.
I was previously under the impression that selling these keys is against federal anti-piracy laws, however I have not been able to find anything to back this up to date. I have also been told that it is not against anti-piracy laws (also without reference). So it is really hard to say for sure one way or another if this is in fact against the law.
I also have not seen any concrete evidence as to what exactly happens once the keys are invalidated. If someone had purchased keys to Microsoft Excel for example, will they continue to be able to use it on an existing installation if they do not attempt to pursue any kind of update? (if possible please cite a source if anyone can answer this question).
My biggest concern personally is that there is somewhat of a conflict of interest. As per the quote below, Vod has said that he has a vested financial interest in Microsoft (full disclosure, I also own a moderate amount of MSFT shares personally). These sales obviously do negatively impact Microsoft's bottom line as they are not awarded the opportunity to realize the revenue they would receive from the customers of the people who are selling these keys.
Check out the marketplace, 60% sellers sell MSDN. There is no rule against selling MSDN on the forums that I know off

Being legendary doesn't mean you are the God at the forums. At least give us a chance.
Send me the links, and I'll leave them negative feedback. As a certified network engineer for Microsoft, I have a vested financial interest in that company.
The reason why this was even brought to Vod's attention was that Tomatocage had given negative trust to one of the sellers, which he removed after being told that it was not illegal (
refrence).