****This project will use only models, scenes, textures, etc. found on Renderosity ****

Only stuff found here at 'rosity? Yeah, I can see that, DAZ would get pretty pissed if people uploaded their files to your ftp.

Unrendered scenes (poser project files) must be uploaded via FTP to our server along with any files used to create the scenes. Include models, textures, etc

Hrrm...
So, with no financial layout, the "helpers" are going to download and purchase/make things for the movie and upload them to you, free...
Fascinating.

I wonder what the legal standing on this would be?

"Open source" is an entertaining thing when you look at it.

will be compensated in many ways

Yes, I can say "file sharing" too...

Excuse my cynicism I'm having one of those days. :)