As I said, I am not an attorney, but I do know that the verbiage of ANY contract can be interpreted by a court of law.
However, in order for a contract (or any other civil complaint) to be enforced or recover, damages must be shown and proven to be the result of a contractee's actions. In this case, there is no way the dealer can attribute that any form of property damage was caused by a particular rider (see my original post for a description of how the incident was handled). I simply cannot see how this "release" could be upheld in court.
Times are tough right now... I understand that. But chasing "potential customers" for a couple hundred bucks (for damages incurred during a promotional event which you were hosting for potential profit) is very likely to cost them much more in the long term.
I have purchased a motorcycle from this dealership as well as referred another purchaser to them. I will not patronize them again.
As for anyone else thinking of riding in one of these demo rides, please do not be discouraged. I still think that the purpose of this event is to better educate on the bike that meets your needs the best. However, please be aware that any potential waivers you sign could cause you grief later on. Take the time to thoroughly inspect the demo bike before and after your experience. Take pictures if possible. Also, after watching the operation of the event, make sure that you are aware of, and comfortable with, the maneuvers being performed.
Ride safe... whether it is your bike or not.