They should extend the event an additional week or at least increase the amount of reputation one can earn.
Considering that this is a recurring event I think extending it is a bit pointless, especially because you can farm reputation tokens beyond the cap and use them while the event isn't active.
I've heard a rumour that the event will be recurring at 2 week intervals, so 2 weeks active, 2 weeks gone, 2 weeks active, 2 weeks gone, etc...
Any confirmation on that? Or did Bioware declare radiosilence on that?