Going forward, WWE will be able to use older archival material and footage with the WWF letters and the scratch logo. They cannot promote themselves or the material as WWF obviously but if they want to play footage of say, Wrestlemania 17 for example, they can use the footage, unblurred and allow that footage to use the name.
As the WWE Network comes closer to launching, WWE wanted the issue with their older footage squared away due to the amount of work and manpower it would take to blur years of footage.