Crosby got so confusing. Here's as far as I've figured out from Crosby:
Originally "Crosby" distributed by Miller's Harness and made in England. Top quality.
Miller's went under (bankrupt I think) and Crosby disappeared for a little bit.
Walsall Riding Saddle Company picked up the Crosby name and brought back their line of saddles. (These saddles have WRSC in script under the flaps.) Still good quality and made in England.
During the WRSC time, the Crosby XL line became very popular. At some point, the name switched from XL to Excel (or maybe the other way around). Still nice saddles.
Then, WRSC was out of the picture, and (I'm assuming due to trademark reasons), the line was changed to Exselle. (selle is saddle in french)
These Exselle saddles are fairly decent. Although, I haven't personally ridden in one.
Recently, the name went back to Crosby and there was a definite decline in quality. These are probably the ones your girlfriend is talking about. Even their newer line of bridlework (although Sedgwick's leather) is assembled in (and stamped) INDIA! Yuck!
I hope that helps a little, but sorry, I don't have any personal experience with the Victory model. =)