I also noticed this is not forward carrying and is only for one version of SQL 2000 CE...
This workaround applies only to the current release of SQL Server CE and is not forward-compatible with SQL Server. On SQL Server 2000, the ROWGUIDCOL property does not automatically generate values for new rows that are inserted into the table. This workaround may not apply in future releases. Also, a table can only have one ROWGUIDCOL column
So apparently even MS realized this was bad?