I think as a community, are biting more than we can chew - and with people rightfully wanting the lo-down on royalties and what-not, this is just going to get more complicated.
I propose that we just contribute fun designs and ideas, and forward them to theory11 - if t11 likes the design maybe they could produce and sell the cards, cutting t11 forumers a discount per deck.
Lastly, keep theory11 name and branding out of it, you're only asking for legal issues if you start selling the decks - as nice as I think the t11 folks are, they are gonna want a stake in the profits, for using their name and branding... trust me. Also, as trademark and copyright holders of the theory11 brand, they are legally obliged to fight people in the court of law, who use their image and branding without permission - even if it is a fan project... and besides, they haven't given us any kind of permission.