Yup, my assumption was that the carnet is not eligible in the countries crossed off, although I didn't examine in detail to say for sure.
When you asked for the carnet to be issued, you indicated the countries you wanted it to cover. Countries not indicated would have been crossed off by the issuing automobile association. The countries chosen would be used to determine the maximum amount of the deposit the AAA, etc. would require. Once you have chosen an expensive country (i.e. Egypt) then less costly countries can be added at no additional charge if you are unsure of the exact countries you are planning on visiting.