I think I'm in the minority here.
So can we talk in some better terminology?
The "Jordan" guy has picks 1.10, 2.01 (11th overall), and then 3.10 and 4.01 right?
The "other guy" has picks 1.01, 2.10, 3.01, 4.10 right?
So they're trading what exactly? If I understand you correctly they'll end up with:
Jordan guy: 1.10, 2.10, 3.01, 4.01
Other guy: 1.01, 2.01, 3.10, 4.10
So nobody ends up with a greater or less number of picks and the Jordan guy still has a second round pick to use on Jordan.
I guess I don't see how that's unfair. That seems like just a smart move on the Jordan guy's part and I don't see how that's going to affect anyone else's picks since they still keep the same picks between the two of them.
I don't see anything wrong with it and unless you change the rules this should be allowed. I would say if you don't like it you'll have to change the rules and wait until next year. Otherwise the Jordan guy probably will be pissed and rightfully so. It's not his fault he's bend the system to his advantage.
Besides, I like that kind of intelligence and would prefer to encourage it in a league I ran.