No.
You can test this yourself:
0. enable UAC if you don't have it enabled, and enable Protected mode in IE 9/10.
1. close all IE9/10 windows.
3. run GPU-z and go to the tab Validation
4. click on the link in blue 'here'. It will open a new IE instance and go to that URL.
5. on an empty page area right-click and choose "Properties":
Area: Protected mode disabled
It's a potential issue as no-one will notice you're running the web "unprotected" after visiting that link (and the web page may be hacked or something else...). I'm sure there's a way to force current user privileges for a launched application, not inherited by parent task.
You clearly didn't read my post.
First of all, what you're asking very well might not be possible.
What's you're describe also (protected mode disabled under UAC admin,) is the default behavior for IE under the admin account. You can't change the settings because this is hard coded into IE. If IE starts was elevated privileges protected mode will be disabled and there is no way to enable it with elevated permissions since nothing is restricting it.
So if you can't start IE as another user and this is default behavior for MSIE, this isn't correctable so you can complain about how bad it is as much as you want, but you're complaining to the wrong people because this is all Microsoft and Windows that is doing that and GPU-Z only shows it because it is required to be run with elevated permissions.
My advice would be: If this really bothers you, then don't use IE, but no one here will be able to fix that for you since it's expected behavior of Windows (not even GPU-Z.)
Your link looks neat, but W1zz still has to implement it which may or may not work. It's a work around for the shortcomings of IE though and I'm not sure if it's worth the time versus just informing people. He'll make that call though, not me.