This was something I had brought up on Reddit during the forum hiatus, but I never got a clear answer, so I decided to bring it here, pasting it directly from Reddit.
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This is something that's been poking at my brain for a while, and it feels like I can never get a clear answer. We know Orko's owned by the He-Man side of rights for media, since he gets to show up in the modern shows no problem: but what's the case for the other Trollans?
I know Orko was a mess when he was created: his copyright for his toy was for Filmation, since he was an original character for the show. And the Classics figures for Dree Elle and Montork show they're "through Classic Media", the company that bought the Filmation library (through tons of confusing cases, thus why DreamWorks has the She-Ra rights).
But I noticed they're never used anymore. It's only Orko and the Unnamed One (created after the split-off, since the CGI show had the usage of him planned). And they play coy with how the other Trollans are conveniently gone, as shown in CGI and Revelation. But Dree-Elle also recently got a French-based figurine too.
So, to the gist of it, are the Trollans that aren't Orko owned by the side that could put them in He-Man cartoons without any legal tape to cut through, and they simply just aren't using them, or are they owned by DreamWorks, putting them in the same messy category as the She-Ra original characters?