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I don't think works for hire are treated differently by copyright law, except that they assign rights to the employer rather than the creator of content. Terms of copyright should be the same.
And I think the relevant part of Ralph's quote is "but the publication of any such new works shall not affect the force or validity of any subsisting copyright...or to secure or extend copyright in such original works."--the new "revised" or otherwise derivative copyrighted work doesn't affect the copyright of the original. (Interesting thought, that; I wonder if older textbooks that keep being revised every year will have to deal with the originals dropping into the public domain while the revised versions are still controlled by copyright.)
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