I say, this license is worth it just for hearing "Marjory the Trash Heap" in a mainstream line up. Considering how the Mokey and Travelling Matt plush (of all sizes) were cancelled after the prototypes, due to the retailors, it's nice to see a bold line up like that. Though I still say, they can get away with selling the toys with a lable or sticker, so you know who you're getting.
Other than that, the letter thing is the only thing that bugs me. It's not a make or break point (especially since I'm liable to wind up spelling Grg or Ragr). though I like the idea of a build up character. Or a Doozer tower. I'd go for pack ins of the various creatures in the rock. like the Flute bird from the "Brave Boy" number.