President Bush did not mis-speak, and he did not equate God and Allah. That sentenced was prefaced "According to the teachings of Islam . . ." That is absolutely a true statement of Islamic teachings. Bush said that Islam traces it's beginnings back to Abraham. Also true.
Bush didn't say that he, personally, believed any of it, or that Islamic teachings were true. The guy who wrote this piece needs to learn to listen carefully. Bush spoke no falsehood or blasphemy here.