You are exactly correct. It was an apostolic administration, flatly rejected by Fellay.
It was rejected because the SSPX still thinks it can force the Vatican to give a universal mandate for the Tridentine Mass. It's no secret that some in the Vatican would have already done this were it not for most bishops conferences who objected, loudly.
Now that it appear the strongest group of SSPX priests is fragmenting, the Vatican will likely step back and offer reconciliation, on its terms.
After all, there seems to be a strong sentiment within the SSPX to reconcile before JPII dies.
The next Pontiff might very well tell the SSPX to take a hike, and guys like Aulagnier and Laguiere know that.
On the other hand, SSPX might get a better deal from another pope - or the next after that, as the Vatican II generation is replaced by more orthodox people.
SSPX has said they need 1) acknowledgement that an indult is not necessary, since Pius V approved the Mass for perpetuity; and 2) revocation of the excommunications, which would follow pretty much anyway from 1.
"It was rejected because the SSPX still thinks it can force the Vatican to give a universal mandate for the Tridentine Mass."
No, the SSPX just wants the Vatican to admit there never was an abrogation of the old Mass, and to acknowledge a universal mandate legally unnecessary. In other words, it wants Rome to start telling the truth for a change and to end the unlawful mistreatment of priests who wish to say the old Mass.