The example was written rather badly, though. It should have pointed out that the module was exporting the type and a couple helper functions, but not the data constructor.
But despite that, the key point was correct. Validating is examining a piece of data and returning "good" or "bad". Parsing is returning a new piece of data which encodes the goodness property at the type level, or failing to return anything. It's a better paradigm because the language prevents you from forgetting what situation you're in.