Mr. Fox actually says a little differently than you are for both B&M and online play (see link). But I do agree that it's possible that the online '24 hours = session' method users will not pass IRS scrutiny. That method just doesn't seem to go along with what the word 'session' logically mean but we will have to wait and see if the IRS ultimately cares or not...
http://www.gambling-law-us.com/Artic...ng-Session.htm