Sorry for the confusion, this is caused by a limitation of our backend...we don't have an option of listing presale or backordered. That's why it's in bold red that it's on presale.

this item is still backordered and I'm waiting for an update from OL on a new release date. We were originally expecting to have these about 3 weeks ago.

FYI: we're currently investigating updating the backend of our store to improve issues like these.