Awesome. If found the issue through the code.
The issue is that real product name have more non a-z characters in it that the router (regex) cannot find.
On top of that, the product didnt have a computed alias set. But - The computed alias gets a match when the router runs, because it trims out the non a-z characters.
All I had to do, was to find the product in the backend and press "save" on it.
So, a final question: There are many products without an alias and going through them manually and press Save will work, but there are many.
Is there some way to mass generate new alias's for all products (ie. do a mass Save function)?