This is under Canadian law, not US - I am not an expert on US IP, though I do have basic familiarity. Canadian is not in my repertoire. I am, in essence, talking a bit out of my butt and will stop doing so.
I did find an interesting link which essentially says Specialized has a case, but whether it's winnable is anyone's guess:
http://velonews.competitor.com/2013/...dium=whats-hot
To answer your question regarding Madone...if there were numerous parts using the name Madone prior to Trek, and a race named the Madone, and it was a common phrase throughout cycling dating back decades, I would think that would be very difficult to enforce.