Interesting. My family is Dutch. Nobody does that. I've never seen it in Holland (been there many times), nor did I see it in Flemmish Belgium. It might be a regional custom, as there are vast cultural differences between regions even within such a tiny country.
As to the picture, no, I don't buy it. He was acting as President, not a tourist. Acceding to Islamic custom is as conciliatory as was Obama's bow. We certainly didn't see any indication of reciprocity on the Saudi's part.
My Dutch friends were born and raised in Amsterdam. They say the rest of Europe kisses twice, but the Dutch go back and kiss the first cheek one more time. I have been to Holland several times and no one there tried to kiss my cheek, I think it must be a custom among very close friends not visitors. Anyway every time my Dutch friends go back home they came back sick with a cold or the flu, I think it is all the cheek kissing.