The only hope she has is that after all this time her model releases have been lost. She was a minor B-list girl who wasn't in much so it's possible.
The thing she has to worry about is the possibility someone might still have a BTS segment of her doing her paperwork, chatting about the scene, etc - something proving informed consent.
Excalibur doesn't need a model release though - they're a retailer and her videos are before the ID rules. I don't really see how she has a case unless she's willing to testify, under penalty of perjury, that she never signed a release.
And Heidi - you didn't do porn before the birth of the Internet. I first used in the Internet in 1985 and we called it that even then (though arpanet was more commonly used).
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"If they can't picture me with a knife, forcing them to strip in an alley, I don't want any part of it. It's humiliating." - windsock