Neat. I really liked Ubuntu One. However, if they seek to receive contributions I think GitHub would give them more exposure than launchpad, from what I can tell the history is not preserved (probably with good reasons) so the switch from bazaar would not have been painful.
They don't. This is a code dump for a dead project. From the FAQ:
"Will you take patches?"
In general, no.
We won’t have anybody assigned to reviewing and accepting code.
We’d encourage interested maintainers to fork the code [...]
They're only using Launchpad because it's a Canonical product and the way they always do distribution of this kind. I too would agree in your choice of Github as it tends to be more developer centric in it's social tools. I think it will get picked up more if it's there..