Maria,
I think so, because all FinCEN cares about is convertible virtual currency - the one that has real $$ value. So if it becomes not redeemable for cash they can avoid registration. In that case they will probably be fall under the provider of prepaid access exception. Recent change in ToS most likely indicates a move in that direction.
All in all, I think it would make sense for them to register. It is not that costly. Not for the company their size anyway