I think the answer is found in these two quotes.
And from here;
http://www.aussiehomebrewer.com/forum/index.php?showtopic=11694
From the Australians who pretty much came up with Brew In a Bag;
From Here-
http://www.biabrewer.info/viewtopic.php?p=30
So if you are not steeping any grains BIAB or Extract W/grains, tannins should not be an issue, and squeezing anything should be fine.
I tend to think this whole "don't squeeze the bag" thing was another "extrapolation" that someone once made as a comparison to tea bags, and like so many other things that turn out to be busted myths (Like Hot Side Aeration) it keeps getting passed around with very little actually validity.
I think that Basic Brewing/BYO may be due to doing another one of their joint experiments. There was some comments on youtube where James posted the basic brewin BIAB episode I referenced above.
Personally if you want to avoid it, do so...obviously it can't hurt NOT to squeeze the bag (though when I BIAB I am going to continue to squeeze the heck out of mine till I am proved wrong in my own experience.)
But, if you do squeeze, then don't panic, there is enough cases mentioned in ALL the "squeeze" threads of folks doing it and having no issues, to assume that you have a 50/50 shot or more of your beer turing out OK.
I've said it a million times, our beer is hardier than must new brewers give it credit. It tends to turn out OK, no matter what we do to it.