They aren't saying that it doesn't work only that the carbon released should be considered.
I don't know much about it, so I'd like to ask a few questions.
Do you know of any information on how terra preta affects the use of fertilizers?
How much is too much; is there a 'saturation point' for the percentage of charcoal in the soil where it begins to have negative effects on plant growth?
Final paragraph from study:
Previous short-term laboratory studies have shown that charred plant material causes accelerated breakdown of simple carbohydrates (10). Our results extend these findings by indicating that charcoal can promote rapid loss of forest humus and belowground C during the first decade after its formation. Fire often causes substantial losses of ecosystem C, and our results provide evidence for a previously unreported mechanism that could contribute to these losses. Our results are specific to boreal forests and to the type of charcoal that we used, and further work is needed to determine the importance of this mechanism in other biomes and for other types of charcoal (11). Although several studies have recognized the potential of black C for enhancing ecosystem C sequestration (2, 3), our results show that these effects can be partially offset by its capacity to stimulate loss of native soil C, at least for boreal forests. The effect of charcoal on native soil C needs to be explicitly considered to better understand the potential of black C as an ecosystem C sink and agent of C sequestration.
http://www.sciencemag.org/cgi/content/full/320/5876/629