Hi Mike,
I have always read it like that as well.
I even called USDI once and asked. They still pretty much hold to the basic CITES classification. Although no one seemed certain, at least the fellows I talked with. This was a few years ago. You may wish to call them directly and rehash it. I'd be interested in hearing the current point of view.
I personally think it's silly to do so in the case of an animal certified as CB(as in zoo bred) but that seems to be the general position.
The whole idea is to protect wild populations. Hence the lower classification for CB animals. They are not part of the 'wild' population. I think the US government just doesn't want to deal with whats CB and what isn't so they want a permit and fee involved.
Bill makes a good point on the caiman. Although I'd be interested in seeing a case of truly CB crocs shipped across lines and the reaction.
A few years ago, when I was breeding box turtles in number, a large turtle exporter approached me. Apparently box turtles are HUGE in Japan. The profit margin was big. The problem? Box turtles are essentially CITES I in regards to shipping them outside the USA. The exporter is pretty schooled in the law. He said if we could verify their CB status, photos, facilities, documentation, etc. They could be downlisted and shipped. I would guess perhap it COULD happen with crocs as well. But I never pursued it as I sold out every year here.
I also hasten to post this publicly, but CITES rules only apply for value transactions. A 'donation' allows the animal to cross lines sans permit. I'll let it to you to fill in this legal grey area.