It was explained to me by the jeweler that only the sterling silver bracelets have the crown over the O, the leather ones are a follow-up bracelet for over flow charms and therefore do not have the crown. They are leather with the pandora clasp and are designed to only hold a maximum of 6 to 8 charms, because of the weight on the leather. This can be worn alone or is originally designed to wear in conjunction with the silver pandora to show all your charms.
I wanted to be absoultely sure of this again, so I called the jewerler and he said there is a very tiny mark above the O the verify the pandora tradesmark, so I looked and it is there. So you were correct, there is a tradesmark, but its not the full crown.