I'd like to update this post with some additional information that I found online that explains a bit more about what these new guidelines mean.
I've recently listened to a podcast I found at LegalTalkNetwork where several attorneys discuss the new guidelines. According to the podcast, the lawyers agree that the new guidelines apply not only to bloggers, but also to endorsements made on other forms of social media such as Twitter, etc. (listen at 21:10 min.)
There is no specific wording or standard form of disclosure required. (listen at 16:22 min.)
It is also my understanding from this podcast that the guidelines apply to those who have a relationship with product suppliers and write about the products on a regular basis. (listen at 24:00 min.)
Those who are not Stampin' Up! Demonstrators and design for other stamp companies on Design Teams, as I understand, will have to disclose in a blog post if they've received compensation or free product used in the blog post. At least, that is how I understand from listening to the podcast. I don't think that simply putting in a sidebar that a designer is on a design team will meet the guidelines, simply because that in and of itself isn't a clear statement of the compensation/free products rendered. I could be wrong, however… that is just how I understand it from the podcast.
Further information on the subject:
What do the Endorsement Guides mean for bloggers?Mary Engle, Associate Director – Bureau of Consumer Protection
How do bloggers follow the Endorsement Guides?Mary Engle, Associate Director – Bureau of Consumer Protection
Quick Query: Attorney Explains New FTC Blogging Guidelines, Practical eCommerce, October 20, 2009
FTC's Advertising Guidelines Apply to All Social Media, Not Just Blogs, ITBusinessEdge, October 7, 2009
Revised FTC Guidelines: Blogger Beware, October 21, 2009