(Since the theme include graphics from the Official Drupal 4.7 Theme (https://wiki.ubuntu.com/Templates) there are "rules of thumb" that still apply. First, you can use it for an official loco team website as long as you've denoted that you are a community theme by making a note of it in the logo area. Second, It is ok to use the theme as a foundation to look at and learn from or modify for your own use, but if you're not an official ubuntu site you need to ensure that you change the look enough to make it distinct from ubuntu.com.)