They are not restricted by law. The U of L Lafayette rule is a law or rule for the universities only. Now they may not be able to find the stuff we like, but that is on us to figure out.
The rule says whenever we use U of L we need to include Lafayette at 50% the size. It says nothing about color. I still have a red UL baseball hat with Lafayette in red while the UL is in white.
I might consider buying stuff like this, but honestly I am fine with dropping the UL and going with Louisiana and Ragin'Cajuns vs having the Lafayette in any color or way.
I am also thinking they should sell the shirts with the UL @ Lafayette as a sew on or iron on kit. Then I could simply delete the damned Lafayette. I would buy tons of gear with that.