I did expect some reaction when BBC broke the story, so I didn't bother complaining here. However, I have just checked the aggregated Welsh LibDem blogs site, and it seems it has passed our activists by. I can only assume that they are inured to this sort of thing from Labour.
A Welsh Labour spokesperson is quoted as saying: "Facing up to a Tory Party bloated by [Lord] Ashcroft's millions in the next general election will be a tough ask and Labour, like all political parties, needs to raise money." So that makes it all right, then.
Update: Betsan Powys has blogged the story.