Yeah, I see your point. Like you said, page alignment and size being a multiple of 4 won't cause a page fault, so it's technically "ok". I can only assume that at this level the corner is safely cut for the sake of performance.
Another more trivial example of something like this is in the repnz-based strlen() (slides 7-8), where %ecx is loaded with 0xffff ffff, which technically limits the routine to scan strings up to 4 gigabytes in length. It's a valid assumption that the string is under 4GB (especially on a strictly 32-bit system), but the point is that it's a semantically different routine than the C based one.
It's counter-intuitive that so many instructions can be dedicated to something so seemingly simple like strlen(), but it does highlight the complexity of modern processors. On that note, I do not know and am reluctant to comment on which implementation of strlen() is fastest, as it seems very difficult to decouple the non-determinism of caches, instruction scheduling, pipelines, etc. by only looking at the source, especially when other code is also involved. But there probably is a benchmark that could give some useful results -- to justify the code above too -- like in the link you posted.
Someone with a better understanding of instruction scheduling, pipelines, and other optimizations can probably give a better answer to this than me.
Sorry, it's back up.
Apparently updating the PDF broke speakerdeck, permanently marking the presentation as "unpublished", even though it is public. I had to delete and re-upload. Probably shouldn't have updated the PDF in the first place, though.