The problem here is that they do have permission do so. Although it can be illegal to sell freeware for a profit, in this case Apexsoftware is technically charging a fee to deliver open-source software, which is permissable (or so I understand). It is borderlining on profiting, but I think they can get away with it. The biggest issue against them is that they are misrepresenting the software for their own purposes - they are cldearly implying that it is a finished commercial product when it is a continuing open-source project. At no point do they state the truth - it may be a grey area but it is a very dark shade of grey.
If they can't be legally stopped (and it is very possible that we cannot), then we should at least try to warn some potential victims.