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I don't know what the shoes look like, so I'm flying somewhat blind here, but here's my thoughts.
I don't believe "1906" and "06" standing alone can be trademarked. However, I did do a search on the USPTO website and Alpha Phi Alpha does have 1906 trademarked in conjunction with their name, as well as their coat of arms. Plenty of other fraternities and sororities (mine included) do the same--that's perfectly legal.
If Converse is making shoes using 1906 AND Alpha Phi Alpha, and/or in the fraternity colors, there could be a trademark or trade dress issue there. The courts will use several different factors to decide if there was a violation or not, which I won't get into here.
Long story short, Converse should probably have asked first.
Situations like this are why I try my hardest to purchase items from licensed vendors. That way I know Alpha Gam is being reiumbursed; I don't want random people making money off my sorority affiliation without my sorority getting something in return. I know that sometimes that's easier said than done, though.
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