This brings up the issue of Net Neutrality and whether or not AT&T had the right to censor this clip.  There are two sides to the argument.  On one side, they were sponsoring and event.  The performance was being shown on their website and the way that it was presented was up to them, as long as it didn't go against any contracts with the band.

On the other side, isn't it AT&T's responsibility to remain neutral for the integrity of the performance and their site?

There is also the outside possibility that it was truly an overzealous content monitor who assumed that anything that Eddie Vedder had to say about George Bush was likely to be "risky".  We here at Bn'R are not educated enough on the matter of net neutrality to form a final opinion yet, so decide for yourself.