Ok, that's what I thought. The lack of a mention of "US-only" in the Terms and Conditions linked to from the education store online seems to confirm it. Thanks for doing the research.
I still think this is a retail-channel level decision. The policy doesn't explicitly state that its US Only because it is assumed that only US customers use the US store (be it retail, or education, etc.) to purchase their gear. Its also the same reason why Apple doesn't accept international credit cards on their US web store.
I have personally seen international students denied the student discount at several Apple stores.