That's really interesting, and I had not read that. There are quite a few reports in which it is suggested (with no backing) that police were biased in favor of Zimmerman, and guided witness statements in that direction. Do you have a link for this report (I will of course look for it myself.)
Embedded in that are several interesting links.
I agree with you that the "two conversations" remark might be misinterpretation by Tracy. But that's a fairly detailed accounting, and not apt to be conjured out of thin air by Tracy.
So, I am thinking that Serino has this theory in his mind (IOW, it isn't a Tracy misunderstanding), and I wonder how he got it. If Serino has this belief, it would tend to explain why he's not keen on Z - Z could have squared the whole suspicion thing up during the first conversation.