I was wondering whether that would be brought up - that link is actually to a friend's run, as far as I know he still holds the record for fastest finish of that game, although I don't think he actively tries to defend it anymore.
It still is the world record for Any%, yes. I'm surprised that a speedrun on an emulator is accepted though, but it seems most of the GBC runs are ran on an emulator.
Game capture from a gbc/GBA is not possible, without using a game boy player for the GameCube - hence the emulator is used so they can actually capture the run. Speedrun.com distributes the allowed emulators on their site so everyone is on a level playing field.