By this I mean, we make a copy of counterparty and call it something else and burn to this. As I doubt counterparty wants us muddling their party.
That's probably true, they probably won't want to be involved with us, because- why would they? The only thing we have to offer is Maidsafe, which could be quite convincing for them. Of course if it was as easy as porting MaidSafe tokens as a counterpary asset they might just convince Maidsafe to port to Counterparty and leave Mastercoin in the dust.
It's an interesting idea to maybe just clone Counterparty, but then of course all we have done is clone an already working project....