No its reads more like, shall make no law establishing a state religion or make a law prohibiting exercising of such. I am paraphrasing from memory. I didnt read your links because I couldnt get to them. Its all subject to interpretation.

Do I think having a stone tablet with the commandments on it is offensive to me as an atheist? No. Truth is truth regardless of where you believe it came from. Do I think the ACLU is a misguided bunch of Dukakis loving, treehugging, moon maidens, you bet. Both sides can say, "whats the big deal?", from both sides of the argument, and they will both mean it in completely opposite ways. But I still think the line is blurred, and I would err on the side of caution.