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First of all, if B&N says you voided your warranty and they won't cover the device, what are you going to do? Sue them?
Second of all, the odds of being "caught" with a reverted rooted Nook Color are probably about zero. So whatever you do will probably "work".
Third, many items in a warranty are just there so that if there are real signs of abuse they have an excuse to avoid coverage.
Fourth, the rest is between you and your conscience.
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