I see what you mean, drnuncheon, that little line is wedged in there quite innocuously, isn't it? That ought to influence my answer and yet I still think that that remark doesn't make sense of what is described following. If a Bloodline Level doesn't actually add to the effective character level, how then would one count levels for a Bloodline character? If I have a Major Bloodline, and I take a Bllodline level at 'level 3', but my ECL remains 2, then what level am I really? At what point must I take my next Bloodline level?
I can certainly structure a system whereby I effectively pay some XP at level 12 (and 6 and 3 as appropriate), thus slowing my advancement. But that's not actually 'taking a level' in anything, is it? It would amount to reducing my XP total by 2000 at level 3, a further 5000 at level 6 and a final 11,000 at level 12. But if that's the intent, it doesn't really say it.
Mouse is right, we need an explanation of the designers' actual intent here.