Despite Apple passing a death sentence to rival mobile advertising firms, the company has yet to enforce the iPhone advertising ruling handed down in June.

According to CNET, that’s something that Omar Hamoui, founder and CEO of Google’s AdMob division, is very grateful for…

“They haven’t been enforcing (the new regulations) yet. We’re very appreciative of that,” he said at the MobileBeat 2010 conference here.

The language inserted by Apple into its iPhone Developer Agreement is a ticking time bomb for competing firms such as the Google owned AdMob. Essentially, Apple can prevent any ad network from collecting certain types of analytical data from iPhones. Doesn’t sound too bad, right? Except that if AdMob and others can’t track simple click-throughs, then they can’t share that data with their advertisers. No data, no advertisers.

Considering Apple’s recent launch of iAds–combined with just how peeved Steve Jobs was that Google snatched AdMob from under his nose–it’s surely just a matter of time before the kill switch is triggered.

Of course, Google must have seen this coming. I guess it figured there are still plenty of other fish phone platforms in the sea!