The number is correct, the wording is backwards. Studies have shown that waist-to-hip ratios (WHR) for women considered attractive within their cultures hover around average of 0.7. Interestingly enough, variation in attractive frontal WHR across cultures dissapears when using circumference as a measurement; in that case it collapsed down pretty reliably to 0.7.
http://en.wikipedia.org/wiki/Waist-hip_ratio
I clicked your link, and I have to say that their idea of a really attractive WHR is really spot on (the example at the top).
The last section is also very interesting. I'd like to see a study done on the people who find smaller hips more attractive, whether this correlates to less intelligence.