It still doesn't work. I roll every week, and still get gold every week. They can say all they want, doesn't mean it's true. Going and using Elder Charms though, I get a ton of gear. Rolling in heroic on my main, gold gold gold gold gold gold gold gold gold....you would think by now the protection would kick in.
I swear I remember seeing a blue post that it only applied to LFR though and later would apply to current.