Still no word back from Ironstone. It occurs to me that this could be little more than a fishing expedition on Ironstone's part. They look around for retro-related Flash games, possibly any remakes of original games whose ownership is in dispute, then convince the authors by a combination of vague legal threats and flattery to hand over their code for next to nothing. Perhaps they expected to find that the author was an easily-intimidated kid?
Sounds a bit far-fetched. Until you realise that System 3 haven't been called System 3 for at least half a dozen years. They're called "Studio 3" now. You would know that if you'd just finished negotiating with the company for the rights to one of their games, but you *wouldn't* know that if you just happened to stumble across my site and hadn't done your homework.
It's all speculation at the moment, but I will keep updating this (rather fruitlessly) as I find out more.