Maybe we should like add a FAQ or something to Charlotte's thread. I feel like this title question and her height come up like every few months. But yeah, neither she nor her brothers have titles because their father was a "commoner." And really and truly, it's just a title. The press refer to them as such anyway, and they're worth millions; the way I figure it, they get as much as any prince/princess has in this day and age, so it doesn't matter.
The yellow blouse and shorts (she seems to be wearing a lot of those lately, more than I've ever seen her wear in candids) outfit is cute. I wish we would've gotten more of that outfit. But I agree that the pink shorts are way too much and not very flattering, even on her slender as she is.