Well, it turns out George Lucas noticed the resemblance to the powerful Jedi weapon and issued a cease & desist to Wicked Lasers. It comes in the form of a press release posted on Business Wire:
“It has come to our attention that a company called Wicked Lasers is selling a highly dangerous product out of Hong Kong that is designed to look like a lightsaber from Star Wars. This product is not licensed or approved by Lucasfilm in any way. We have demanded that Wicked Lasers immediately cease and desist their infringing activities. As Wicked Lasers itself admits, this product can cause serious injury to the user and other people. We strongly discourage consumers from purchasing it.”
The Spyder III is still available for about $200, but with the legal department of LucasFilm involved it’s likely to go the way of the Death Star at any time.