You are correct that this still works because I just recently moved 4 old RaF accounts off of my main account and they still show that they have mounts (even though the BNet account was created brand new specifically for these accounts to run out of time and die).
As for the process of unmerging, I haven't had any trouble convincing any customer service reps to unmerge at least... 12 WoW accounts from my main BNet over the last year (yeah, I re-RaF a lot). All I've ever told them was that I would like to clear all of the accounts (some were active, others were not) off of my main BNet to make room for a new set of RaF, but to be fair, all WoW accounts were unmerged onto a brand new BNet rather than an already existing BNet, so that may be where you had to do some convincing. /shrug
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