The article is in reference to the "extended version" that will be available for purchase on DVD as of 12 November. There is no "director's cut," as such--Peter Jackson likes neither the concept nor the term.
The "theatrical version" was for general audiences. The "extended version" is for LOTR fans/geeks.
Either way, I'm glad there's an extended version. Getting rid of the gift-giving sequence in Lothlorien seemed strange...the gifts do come in handy later and it showed character development on the part of Gimli.
I preordered from Best Buy (I had a digital coupon) and got a message in the mail that it shipped today...when o when will it arrive? I wants my Precious!