You're right, that seems to be a very real regulatory risk for this product. Basically, this product is a cross band repeater between the ISM band and the MURS band. Just because the encoding is different doesn't not make it a repeater.
Bluetooth is a short range encrypted point to point link. It would be considered part of the station. Repeaters, in radio jargon, generally accept input from many sources, often without access control.