pumpkin said:
All of the bonuses provided by a Wood Elf's Nature Bond ability – both the initiative modifier and the skill modifier – are dependent on the character being in woodland terrain.
It's good to know that this was their intent - thanks for getting us an answer on that, pumpkin.
I reiterate that this rule needs to be errata'd. Note that this is different from a FAQ. A FAQ provides clarification on an unclear rule, an errata is a correction (though both GW and FFG tend to muddle the two together). The rule as written is grammatically incorrect given the intent of the designers.
@Fnord: Yes, the English degree comes into play a lot when reading these things. It also doesn't help that I do this sort of thing as part of my job anyways. 
@pumpkin: When there is an issue with a rule being ambiguously worded, then yes I agree that examining the intent is useful. But in this case the wording of the rule is incompatible with the rule the designers wanted in the game. I realize 95% of the people reading the rule will think "It's just a comma, what is Haggard being so OCD about it for?" But grammatically it's the equivalent of someone claiming the sky is yellow when they really meant to say blue.