Although I'd highly suspect that most if not all FS will continue with requiring applications unless a new FS is being set up and require a dozen or more players.
Also this feature now screws up the rule that your not allowed to invite yourself into an FS you already play in ;/
The rule you quote has nothing to do with Fellowships. It applies to those games which allow players to invite their friends to play, and to gain benefits thereby. As Elvenar does not have that feature, it does not apply.
On an earlier post, the cool-down for joining Fellowships still applies. A player who joins a Fellowship must wait 24 hours before joining another.