I think the core issue brilliantly uncovered by the OP is that the ethical issues around copyright keeping are relative not absolute.
Here, the dominant ethical norm seems that the Watchtower's copyright is relatively less worthy of protection because they use copyright to do bad things, and the copyright owner's rights are relatively worthy of protection because Ray and Cynthia Franz chose her to carry the copyright forward.
The ethical argument supporting 'bootlegging' is that the copyright owner was ineffectual in making Franz' works available.
One counter argument to that position is that the copyright owner was in fact a highly effective steward of the copyright in self-interest (and the purpose of copyright, the law being so vigorously upheld here, is the self-interest of owners, not consumer's access to material).
The scarcity of authorized copies and moral chatter about the unauthorized copies has generated high levels of interest in an old book and sympathy for the copyright owner is sky high.
On the back of that sympathy, some have even redistributed her general appeal for money, like here: http://www.jehovahs-witness.com/topic/5688224294895616/friends-you-concerned-about-future-ray-franz-books
All this just before a mooted re-release of the book: high publicity in a niche audience, high sympathy, moral labeling of unauthorized distributors.
For me, it's all relative.