Nope. The Jezebel story (and by extension this one) is completely wrong.
The sexualized Merida was NEVER on the Disney Princesses website. It IS on a new line of clothing and accessories, which has NOT been pulled, and is still featured on target.com.
The revised image was never featured on Disney’s princess website, but could be found on Target’s website, in addition to a specific site inviting mom bloggers to the coronation at Walt Disney World this past weekend.