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I would like to think you are right

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That's okay, you can think that; it's a +EV bet in all situations.

Here's the rule from your original post:

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A player who misses any or all blinds can resume play by either posting all the blinds missed or waiting for the big blind. If you choose to post the total amount of the blinds, an amount up to the size of the minimum opening bet is live. The remainder is taken by the dealer to the center of the pot and is not part of your bet. When it is your next turn to act, you have the option to raise.

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A player who misses any or all blinds can resume play by either posting all the blinds missed or waiting for the big blind. - This is the root of the confusion of the paragraph, and this sort of thing varies by room. In ours, even if you miss only the small blind, you are responsible for both blinds.

If you choose to post the total amount of the blinds, an amount up to the size of the minimum opening bet is live. - Again, awkward wording, but I feel this is soley in the case of somebody posting more than one blind, NOT for someone only posting a small blind. It's a separate sentence from the first one about posting only missed blinds (ie, just the SB) and is qualifying if a player is posting the total of blinds, only the opening bet amount is live. Really, the interesting bit for me is how this is handled in games where the opening bet is more than the total of the blinds.

So, yes, a very awkwardly worded paragraph, one that could use a heavy edit, but I don't think you disagree so much as have a problem with interpretation of a confusing and vague guideline.

Hasn't Bob been fairly responsive to discussion of his rules? This could be cleared up so easily...