You are exactly correct. You can still be VFR and enter icing; freezing fog, freezing drizzle, freezing rain and snow etc.

The regulation seems to be written so if you filed VFR, you could fly through an area with forecasted light to moderate icing. But as soon as that ice becomes known, if you willingly flew through the area, you would be in violation. As others have pointed out, the FAA has been very liberal when determining known and forecasted and whether the pilot was wreckless.

Does that make sense? Am I missing anything?

Sellener;

I believe you would be legal if you flew with a student, VFR, in an area of FORECASTED light to moderate icing (assuming your aircraft isn't certified). But the minute the area gets KNOWN icing, you need to exit that area.

Whatever the case, READ APPENDIX 2 of that advisory circular. Even the FAA admits, forecasting ice is difficult and many pilots suddenly find themselves unknowingly in a bad situation. As PIC, you have to make the decision if its "smart" to go fly. If you think you can maintain wings etc clear of ice, then go for it. But if theres chances of you having to penetrate clouds or freezing precip, I wouldn't go. Being legal does you no good if you're dead.

-Fatty