Good catch, Bob. You're right. That site is showing one page for users with Flash and another page for those without (presumably Googlebot falls into that camp). Visit the page without JS enabled and the CSS fails to load, resulting in the left hand navigation looking like a site map.
What's the deal with the #7 ranked site with 73% of the backlinks matching the keyword phrase? I did a Yahoo Search of their backlinks which showed 1,480 backlinks [search.yahoo.com]. No doubt that's an incomplete result, but for the purposes of this discussion it's probably close enough. I did the same backlink search but with the words "outdoor clothing" [search.yahoo.com] specified to appear on the page, which includes anchor text since that is text- but also words occurring on the page, meaning the results should overcount. I only received 498 results, which is less than 73%. Furthermore, not all of those pages where that word occurs are anchors to MountainWarehouse.com.
I am not saying that the data the SearchEngineWatch author derived from the LinkFinder tool she is beta testing is wrong. Just noting that it doesn't match what is being shown on Yahoo.
Something that bugs me about that article is that the author speaks about percentages but not actual numbers. Percentages can be misleading. 2% of something can appear to be less than 73% of something else. Unless the 2% is of an exponentially larger amount than the 73%. What would you rather have, 73% of a dollar or or 2% of a thousand dollars?
Take a look at CotswoldOutdoor.com's backlinks [search.yahoo.com]. Yahoo shows 16,000 results. If you do a backlink search for backlinks on pages with the word "Outdoor Clothing" [search.yahoo.com] on it Yahoo returns 2,900 pages. Although not all of those pages are anchor text to CotswoldOutdoor.com, it does show there are almost six times as many sites linking back to CotswoldOutdoor.com with those words on the page than for the seventh ranked page. Could it be that "words on the page" may be an overlooked ranking factor in that article? Over 18% of the pages linking back to CotswoldOutdoor.com have those words somewhere on the page.