Michael,
The article outlines the FCC articles you speak of, but represents the FCC's stance as ambiguous enough as to allow the restriction HBO and Cinemax just announced. Since I am not a lawyer, I cannot vouch for any interpretations I might make either. The article does suggest that the FCC could further clarify and make this sort of behavior illegal, but their assertion is that this is not currently the case.
As to the comment that it isn't HD so who cares, I only posted it here because I strongly believe this could be a prelude to HBO/Max offering HD on the OnDemand channels. Even if the FCC steps in and bars this flagging behavior, in the short term HBO/Max's decision to implement this could get HD HBO/Max OnDemand into the wild.