The second bullet on the web site is a little cryptic, in my opinion. What it's trying to say is that you can use holding account points for other collections, but the rule of four still applies.
The rule of four (which is for all bookings, not just those using holding account points) states that you cannot both book and travel within the last four months of your use year for Concierge Collection, Adventurer Collection, and Disney Collection (with the exception of
Disneyland California hotels). You can travel to these destinations in the last four months of your use year, but you have to have booked it in the first eight months. For example, if you have an August use year, you cannot call Member Services in April, May, June, or July to make a Concierge, Adventurer, or Disney Collection reservation in April, May, June, or July. You would have had to have made the reservation in March or before.
For a holding account booking, you can't book more than 60 days in advance.
These two rules taken together make it difficult to use holding account points for anything other than a
DVC or World Passport reservation if you are late in your use year. You can't book them more than 60 days in advance of when you want to travel, and you can't book Concierge, Adventurer, or Disney collection reservations within the last four months of your use year.