That's one interpretation of AoOs.
The other relies on the quote from the Combat section that (paraphrasing) an attack roll is not a single swing of a sword - it represents a series of feints, dodges, wild swings, etc. Normally only one of those has a chance to hit - the rest are assumed to be wasted on the opponent's defences.
If the opponent takes an action that leaves an opening in those defences, however, one of those swings that would normally not be represented by a roll of the die might actually have a chance to hit - an AoO.
However... with ranged attacks, one attack roll does equal one arrow. Otherwise, your quiver would empty out a whole lot faster than it already does.
Thus, when the opponent leaves a gap in his defences, there are no arrows in the air that would normally be wasted but instead have a chance to find the gap.
Melee = one roll, lots of swings : potential for AoO.
Ranged = one roll, one arrow (/dagger/bolt/sling bullet/whatever) : no potential for AoO.
-Hyp.