I think that this ruling is a bit of a shame. All the people protesting that you obviously couldn't intercept while restrained based it on intercept being a leap in front of the attack approach. I agree that restraining should prevent intercept in this manner. However, a restrained guard can still cast spells, defend, attack or back chat... Why does it seem so inconceivable that they couldn't do something that distracts or interrupts a ranged attack? Throw that munty big shield for one? Or a stick from the tangle vine? A clump of dirt etc? Someone suggested a magical intercept/attract attack effect, but it doesn't even need to be that complex. There is no real spatial positioning in a zone, so while I accept that an attacker could just walk around a guard to get to another creature, it seems just as conceivable that a restrained guard with intercept is still able to block some part of the line of sight from a ranged attack coming from a distance...
Anyway, just my 5 cents, basically I think it's just as thematic to allow it as it is to prevent it while still allowing any other non move based action...