So, as far as I understand, the "Klickk blog" has a confirmation of TLG that it is a production error that Elrond has come with the short (hobbit) cape. It was supposed to have the long cape. Everyone who wants a long cape should contact Customer Service.
(I just saw that the English translation came much better out than the German, so I've just doubled the sentences... :shame:)
Now, this will be interesting as some people already have contacted TLG's Customer's Service without result. And I am curious what my figure will look like.
Propably jsut another case of different constumer service people saying diferent things.
Im sure it was a decision made at some point about including the short cape at LEGO, and that is how they mean to produce it.
But seeing as all the promotial material aswell as the packaging is showing the long cape they fucked up.