I wonder if they can get around that by knowing the information, but not explicitly displaying it. For example, if one does a search and Hipmunk knows that Southwest has a plane scheduled at that time then they can provide a link to the Southwest website and a suggestion that "Southwest might have a time that's good for you." with a little "[?]" box beside it explaining that Southwest prohibits Hipmunk from explicitly displaying their info.
Obviously, another way would be Hipmunk getting authorization to use Southwest's data from Southwest.