What? You find this shocking? While you may be biased towards looking at things from a trademark/copyright perspective, you must at least assume some people look at things from other perspectives. It is more interesting to look at this from a social impact/psychology perspective, rather than to undermine the idea based on a word trademark.
Sorry, but I don't see how getting people to sign up to a mailing list so that they can receive a random email from a stranger once a day is such an amazing idea. It sounds rife for abuse and the fact that the authors didn't bother to check to see if the name they choose was trademarked first shows to me that they don't seem to care what anyone thinks. My guess is that this doesn't end well and your email address gets sold to the highest bidder.
You're taking this way too seriously. "They don't seem to care what anyone thinks" because they're thinking about it at a scale and profundity exactly appropriate for what it is--a one semester class in a grad program that's very big on experimentation, rapid prototyping, and art, but not very big on process, paperwork, or structure. It's a school project. Remember that.
Seems like a super cool project.