Because the released document suffices as proof that the state of Hawaii acknowledges BHO as a natural-born citizen, and that is enough, failing overriding proof of ineligibility (of which there is none of yet).
Circumstantial evidence of disqualification fails in light of certification of live birth in the USA. "I don't believe it" is not legal proof compelling disqualification. ...and given that, why the he11 would he want to disclose the original BC?
No, it doesn't. HI issued COLBs for non-citizens, B.O.s sister is proof of that.
All the state did was attest to the existance of a vault copy (original). The state made no such statement that B.O. was a natural born citizen of HI.