Valve is generally supportive of mods (hell, a Portal 2 mod was just released a few days ago) but it seems like recreating Team Fortress 2 was pushing it... Really sad, honestly. I really hope Valve would just strike a deal with these devs and make it official rather than throw away the insane amount of effort they put into re-building TF2.
it's also important to consider that recreating an entire game like Tunnel Rush Team Fortress 2 would involve legal and intellectual property considerations.