Selling binaries of open source code? Check
Withholding the code so you can sell a "remove branding" option as an extra? Check
Forcing people to pay extra for open source code? Check
Someone should probably make the bitcoin/litecoin devs aware of this, I bet they won't be too happy about it.
All the alt-coins are MIT licensed (at least ones forked from bitcoin). Nothing wrong with what the guy is doing, however tasteless it may be.