I would guess that Hyperion needs to dispute the trademark.
From all the articales I have read on slashdot etc over the years, US law seems to indicate if you do not dispute and allow a third party to use your trademark or one which is similar to your trademark, then you pretty much lose the right to dispute the trademark in the future.
Of course, this is all supposition on my behalf not being a lawer or anything

I will admit that this Commodore USA thing is already confusing people I work with thinking their is a new 'Commodre Amiga' suddenly out of the blue. If that is not diluting the name, then I don't know what is.