That's the basic premise. What you need to understand is that an EMP is like any other electromagnetic fields in space (air). If you think about regular broadcast FM radio, that is a similar phenomenon (but at a significantly lower power). When FM radio waves hit the antenna on your car or portable radio, they are easily picked up by the antenna because it has a length that is close to one-quarter of a wavelength of the incoming signal (e.g. it resonates near the frequency that it incident upon it). Since the antenna resonates at the same frequency as the incoming signal, energy can easily move from the E-/M-field to the antenna, and into the wires connecting it to the radio's receiver circuit. Since they are well-matched, energy goes into the receiver, which filters the signal, mixes it and amplifies it, such that you hear the baseband information being broadcast (audio/music).
A similar thing happens with an EMP, except that the antenna is your household wiring, and the "receiver" is anything plugged into that wiring (TV, computer, refrigerator, alarm clock, etc). The EMP is a very high-intensity electromagnetic wave. The wires in your house act like the antenna, so when the EM wave is near resonant with some wiring in your house, the wiring acts like a good antenna... converting the electromagnetic field into a high voltage/current on your house wiring. By injecting very large voltages/currents into your household appliances, you will wreak all sorts of havoc. Typically you'll cause capacitors to breakdown (over-voltage), diodes to burn up (over-current), transformers to burn up (melted windings, over-current), and similar too-much-power related phenomena.
The author states that having leads < 30" long will help protect you. This is a good place to start, but I'm unsure how much help it will be without looking at the actual voltage/current induced by the EMP. This will be somewhat dependent upon what impedance characteristics your device presents at the frequencies where the EMP contains lots of energy. Talking to someone with a good EMI/EMC background would be very enlightening on this subject.
Overall, I'd agree that unplugging the device would help you (detaches the device from the "antenna"). Running from a battery with short power leads would be helpful (very small antenna, reduces the amount of energy that it will pick up from the EMP... like using the wrong sized antenna on your radio, it just doesn't pick up the signal well at all). Leaving a device unpowered but still connected to the house wiring would still cause it to be subject to the high voltage/currents if an EMP happened, so that probably wouldn't help you much at all (other than the isolation provided by the switch, which may not be worth much with several thousand volts on the wires).