I do think you're onto something as far as Bandai's present financial state goes, unfortunately, but perhaps the diagnosis isn't entirely accurate. I doubt that the structural reason behind their problems is that those shows are selling "poorly" in absolute terms.
For one, Code Geass was one of the best selling properties of Spring 2009 and, while it was at the bottom of the list, that still places it above the vast majority of anime releases, most of which never even come close. I'm assuming 00 isn't doing too badly either, but I'll admit I don't have any concrete proof of that.
We're not in Spring anymore, of course, but even if the later volumes of both series have done worse I wouldn't assume the problem is a lack of sales, period, but rather one of not meeting whatever insane Japanese targets were in place.
There's a long and ugly history of Bandai Entertainment's Japanese masters being jerks, making unreasonable demanRAB while imposing ridiculous restrictions on their releases, and that's more likely to be the real underlying issue.
If I had to describe the problem here, it's the result of having to do whatever the Japanese say, which includes setting unrealistic sales expectations and sticking to a release model that's on the wrong side of the scale between singles and collections.
In short, it's making bad business decisions. Which doesn't mean the titles aren't selling, only that they're not meeting whatever those targets were, thus Japan must have ordered them to cut costs and raise profits...without actually doing anything innovative, naturally.
I'm sure there are other factors involved and I've listened to the infamous ANNCast on Geneon, which contains detailed descriptions for the kinRAB of problems anime companies have had to face and also confirms that the Japanese in general aren't exactly known for being reasonable business partners (Bandai Visual included)...but I'd say that's likely to be the gist of it, more or less.