They need to update their FAQ:

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What are your rules about flying standby?
If you already have a ticket and decide you would like to check availability on a different flight, other than the one you're scheduled on, we'll be glad to help you with arranging that change.

If you want to travel on the same day of departure as your original itinerary (whether it's your outbound, return or one-way flight), you can fly standby for no additional fees or you can confirm a seat on an available flight for only $50 at the airport between four hours and 45 minutes prior to the desired scheduled departure time. The $50 fee is non-refundable.

For changes to a restricted ticket for travel other than the same day, an exchange is necessary. You would be charged any additional fare difference and a $100 processing fee.

Summit Level EarlyReturns® members may fly standby day of at no charge. For the return on a round-trip ticket or on a one-way ticket, Summit members may also fly standby day before or day after at no charge.

This policy doesn't apply to Weekend Web Fares or other promotional fares.
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or did I read this wrong?