Citation? I've never heard anyone interpret the GPL and LGPL as the same.
Embedding mono is different than using mono. https://xamarin.com/licensing
Since they don't have access to the source code, they can't fulfill the legal obligation outlined in the GPL license.
From what I understand lot of code is GPLv2 as well, which would make the project as a whole GPLv2 licensed.
From http://www.mono-project.com/docs/faq/licensing/
The C# compiler is dual-licensed under the MIT/X11 license and the GNU General Public License (GPL).
The tools are released under the terms of the GNU General Public License (GPL).
The runtime libraries are under the GNU Library GPL 2.0 (LGPL 2.0).
The class libraries are released under the terms of the MIT X11 license.
When distributed 'as a whole' it is distributed under the terms of GPLv2.
The runtime libraries (LGPL) and class libraries are indeed not under GPLv2 .