That is what the label on the bottle says.
Nowhere on the website's description of this product does it say anything about not using this FO in cold process soap. In fact, there is a picture of "Winter Wonderland Fragrance Oil in Cold Process Soap" and the testing notes describe the results of using this FO in cold process soap.
I haven't used this product yet and just noticed the alert on the label. I'm giving this two stars initially because of the contradiction between the website info and the bottle info. And I'm putting this in the review section 1) so somewhere on the website there will be a record of this FO being "not recommended" for CP soap so people can see that before they buy this for CP soap, and 2) hoping that the Nurture Soap person or people looking at this will respond with an explanation.
Obviously it must be OK to use in CP soap because Nurture Soap tested it as such, and many people have used it as such. So why put that disclaimer on the bottle?