Is Google Chrome open-source?

The German blog datenschutzbeauftragter-online questioned the assertion that Chrome is open-source. They pointed out the paragraph 10.2 of the license:

You may not (and you may not permit anyone else to) copy, modify, create a derivative work of, reverse engineer, decompile or otherwise attempt to extract the source code of the Software or any part thereof, unless this is expressly permitted or required by law, or unless you have been specifically told that you may do so by Google, in writing.

Which is a remarkable constraint for an open-source product. Regarding the open-source project you’ll find Chronium, which is the open-source project behind Chrome. datenschutzbeauftragter-online argued that Chronium isn’t Chrome and while Chronium is open-source, Chrome isn’t open-source at all. You can find on the Discussion Group the following interesting phrase which underlines their point of view:

Google Chrome is built with open source code from Chromium

And now, have a look again that their comic where they claim that Chrome is open-source. It’s pretty strange for me that this hasn’t discussed in the press so far…

Well, if open-source is important for you, take Firefox. That’s a real open-source project or otherwise just continue browsing with the IE7. You won’t miss anything.

UPDATE (04/09/2008):

TheRegister is making fun with the original comic... (Thank you Ian ;-)