I will take a look at the ad-block code when I have a chance. Although they might target the word 'Ad' the determination to hide the block would not just rest on that trigger and would primarily be triggered by the 'content': the code would then manipulate the DOM by either finding a block element to hide or adding a block element as needed. Your test in firebug might not be accurate as the page has already been rendered via the browser.
I would be creating my own test page, place an ad on it and step through the 'ad-block' JavaScript.
I am pretty busy right now, but if you run into trouble let me know and I will try to make some time to get you back on track.