Is it compatible with Adsense policy?
Async Adsense: http://webmasters.stackexchange.com/questions/2506/is-it-pos...
Async Analytics: http://www.ditii.com/2009/12/01/google-analytics-asynchronou...
I don't know what's the second link for, as analytics are asynchronous per se?
EDIT: By the date on the second url, very probably is a hack for an older version of Analytics.
EDIT 2: First link is an unaccepted answer on an stackoverflow-like site on the topic for using an against the rules of Google hack. And Google doesn't need much help for closing your account and your money.
Here is another link for async adsense with code included. The author has also posted his e-mail conversation with a rep. from the Google Adsense team. There is nothing fancy going on here, just iframes, really.
http://geoland.org/2007/01/adsense-in-iframe/
You could just reach out to adsense yourself and report back what you find regarding violation of the Google Adsense TOS.