Sink, if these guys didn't come along every four years and send out legal threats to folks like the "Olympic Car Wash" and "Olympic Pizza" and hotels offering their "Olympic Weekend Package", then you might be able to call it "political posturing." But the fact of the matter is that they do this all the time, to everyone they can find using their name. Why wouldn't it be "political posturing" if they did it to everyone else but DIDN'T say anything to the campaign?
If the Bush add said he is the "Olympic President" then you would have a point. That is not what the add is doing. It is reporting a fact about the Olympic games. Does every news organization have to get permission to use the word "Olympic" when reporting a news story about the games?
It's silly, and I can't believe someone as intelligent as you would be defending it.
But, then, you make your money off this kind of stuff.