The proviso for flying a VFR/VMC climb is the same as that for VFR on-top, so, essentially, you're saying that SWA and other 121 operators, or 135 turbojet operators, can file VFR on-top.
As far as the POI is concerned, they do not have the authority to override AFS-200 or the FAA Office of the Chief Counsel at hq. If you think that they do, try to explain that you have your POI authorization to an ALJ and see how far that gets you. You can have a letter from your Region that says you can do something, but if AFS-200 doesn't agree, you WILL lose. Period.
My committee got legal interps on this issue back in 1995, and they left no wiggle room. I have since spoken with the manager of AFS-200 and several others at FAA hq and they assured me that FAA has not changed their position on this issue.
If you want to play "bet your ticket", go ahead. If it were me, I'd check to see if SWA (or whomever) has actually applied for and received an actual approval to deviate from the standard ops specs in this regard. It is a possiblity, but I would check. CYA, eh?