Just what does nascar probation mean?
It basically means "Don't do anything stupid, or you'll be parked."
NASCAR is basically acknoledging that a serious breach of protocol has occurred; however, given that this is Edwards' first offense they did not deem it necessary to park (suspend) him.
With that said, if it even looks remotely like he is going after someone anytime soon, he will be black flagged and you can guarantee he will sit. He is on NASCAR's radar going forward.
An SS Camaro looks like it could kick your ass, but a WS-6 Trans Am looks like it's actually coming to do it!