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[edited by: FranticFish at 9:52 pm (utc) on Dec 23, 2013]
IMO if Google care about 'display:none' to hide content, then they also about other CSS methods of hiding content - the above method included, as well as positioning something off the visible page with a huge negative margin.
But I don't think they do care.
Systems and methods for detecting hidden text and hidden links
A system detects hidden elements in a document that includes a group of elements. The system may identify each of the elements in the document and create a structural representation of the document. The structural representation may provide an interconnection of the group of elements in the document. The system may also determine whether one or more elements of the group of elements are hidden based at least in part on locations or other attributes or properties of the one or more elements in the structural representation.
[patft.uspto.gov...]Google Granted Patent on Invisible Text and Hidden Links
Linked from the Guidelines is a Google page on Hidden Text and Links, where Google tells us to wary about doing things such as:
Using white text on a white background
Locating text behind an image
Using CSS to position text off-screen
Setting the font size to 0
Hiding a link by only linking one small character—for example, a hyphen in the middle of a paragraph
Make sure if you use display:hidden or display:none anything not showing is easily displayed by a user.
we realize that it may not be the best user experience for mobile if we display the same content for them simply by re-arranging the layout. In other words, we will probably have to hide some content to mobile users by using display:none.
You better see some examples of big sites and how they deploy responsive design.