I don't think this means NO more edgehogging, but I *do* think it means more refined edgeplay. Think of it this way:
In Melee, edgehogging was trivial. You were considered "on the edge" for so long, even after rolling or jumping up, that really the timing to edgehog wasn't that strict; it was less strict than a wavedash or L-cancel, that's for sure. So, really, once you got down reverse wavedashing off the edge of a stage, you knew how to edgehog; all you needed to do then was make sure a recovery straight to the stage wasn't an option (or was the only option, which you would then punish).
In Brawl, we had the opposite problem: edgehogging was, on the whole, very difficult. With the variable concerning ledge occupancy being updated more quickly, it was much harder to hog without being punished for it. Yes, invincibility was longer, but many recoveries could also stall out on the ledge and beat out that invincibility, especially if the hog wasn't timed just right. In addition, there was little counterplay on the ledge, especially in the case of tethers; that's why they're all so low tier, because it was impossible for a tether to recover once someone was already on the ledge. Add in the fact that it was easier to recover to the stage and harder to punish it from the edge, and you have a much less complex edge game. In Brawl, people spent a lot of time on the edge, but it was mainly to stall or camp.
This, however, changes all of that. The variable invincibility timer allows ledge play to be carefully balanced around recovery, and not low-percent gimps. In addition, the occupancy variable is no longer an issue like it was in previous games: now, the operative variable in recovery attempts is the ledge occupant's invincibility timer, which is MUCH more intuitive and makes much more sense. Edgehogs have to be carefully timed, but also, there's no one-size-fits-all approach to hogging anymore, since your own percentage will determine the timing you have to use to hog: do it too early, and the ledge is taken from you. This also fixes ALL the problems with tethers: if anything, it's a MASSIVE buff, since it may no longer be viable to reliably hog them at all. There's real counterplay on the ledge now.
I absolutely can't wait to see how this all plays out.