The text could hardly be clearer: you do not have a license for commercial use of H.264. Call it “Final Cut Pro Hobbyist”. Do you post videos on your website that has Google Adwords? Do you edit video on a consulting basis? Do you want to include a video in a package sent to your customers? Do your clients send you video clips as part of your business? Then you’re using the encoder or decoder for commercial purposes, in violation of the license.
This last thing is actually a particularly interesting point. If you encode a video using one of these (open-source) unlicensed encoders, you’re practicing patents without a license, and you can be sued. But hey, maybe you’re just a scofflaw. After all, it’s not like you’re making trouble for anyone else, right? Wrong. If you send a video to a friend who uses a licensed decoder, and they watch it, you’ve caused them to violate their own software license, so they can be sued too.