Thanks to Irene Marshall of Tools for Transition, for finding this article from 2006 that outlined new rules for defining job applicants.
While I had heard some rumblings of the implications of this change back in 2006, the reality of the situation is that the changes have not had the impact on job seekers -- or careers professionals -- that might have been expected because of its limited scope so far. Currently, it only applies to companies with a federal contract.
You can find more information about it in this article from the Electronic Recruiting Exchange (ERE).