jai:
I'm pretty sure he's understanding the equity calcs. I think he's saying the reverse implied odds of top set negate the equity advantage present on the flop. Here's a disgusting example...
http://twodimes.net/h/?z=2052964
pokenum -o8 kc kd qh jd - ah 2h 6s 8s - ad 5d 6c 7s - 4c 4s 2s 3c -- ks 3h 4h
Omaha Hi/Low 8-or-better: 528 enumerated boards containing Ks 4h 3h
cards scoop HIwin HIlos HItie LOwin LOlos LOtie EV
Kc Kd Jd Qh 102 198 330 0 0 0 0 0.284
8s 6s Ah 2h 166 185 343 0 302 57 16 0.501
7s 6c Ad 5d 36 114 414 0 57 312 6 0.165
4s 2s 4c 3c 17 31 497 0 0 57 10 0.050
Top set has .034 more than fair share. If 8 BB go in on the flop (capped four ways,) your booking .272 BB in profit. If you are always paying off bets on later streets, then it is a losing proposition.