I'm with skissane, I'd be leery of any project without clear licensing as well... regardless of whether or not I had any kind of commercial interest in the project. To me, it's just one of Those Things That Should Be There, ya know? If the license terms aren't clear, I don't really know what I'm allowed to do, or not, with the project, and that just makes me uncomfortable.

But, I'm a bit of a radical ideologue when it comes to F/OSS, so maybe I'm a bit outside the mainstream on this one.