This was talked about in the "Olympic status" thread: the main threat to the Laser in the Olympics doesn't come from competing new boats, but the business structure of the class itself, which may break international competition laws. That would be hard/impossible for the WS (or even the IOC) to accept. (Why this has come up now and not 10 or 20 years ago, is yet another issue to discuss.)
To clear that biggest road block would require rewriting the agreement(s) between the builders and the involved organizations, and knowing LP's track record it's easy to see who would have been the least cooperative party in that.
About the legality of new LP material: there has to be a cutoff point, otherwise LP might go on forever selling their stuff anyway. I guess with hulls you can simply discontinue giving them new stickers and wait until they run out of them. With all other equipment it's a bit more complicated.
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