The Hudson community is currently voting on whether to rename the project.
Since it is on Github, my assumption is that if there is a name change, then it will simply be made to the project. That would then mean that Oracle would then fork from that code and I am guessing bring it onto it's own servers.
There have been other instances where a project renamed itself. I recall with EJBoss was told by Sun it was breaking the EJB trademark and had to rename itself. Probably one of the biggest favors Sun ever did for JBoss.
However, I am not aware of a project renaming itself like this and a fork happening back to the previous name. I wonder if this is a first?