I think you are right that that is definitely a factor. However, the interest is there for some folks to pay $150+ for the re-releases. I thought this would bolster a bit of interest in the rarer figure with the wacky extra accessory (I don't think the others got the machine gun, either. . .). Maybe the figure just isn't that desirable anymore. Eh, who knows. A couple Croc Caps did sell for over $400 a few weeks ago, but they must have been isolated cases or shill bids.
Yeah, it's possible that the re-releases might have some effect on the sales of the Croc Cap figure. But, in any case, don't give up! If you're not in a hurry, just be patient and I'm sure that you'll get the figure sold. I've been thinking about trying Craig's list, to see if I'll have a better experience there. I'm so tired of paying all of those danged Ebay listing fees for my unsold merchandise.