Technically, that's correct. A TV in USA (NTSC) does not have to support anything PAL. The fact that your Olevia TV does is a good thing, but not a required thing. That's the "standards" they are talking about.
With that aside, it's your DVD player's job to decide if it supports NTSC or PAL, not your TV... At least that's what I thought, but I could be wrong on this one.
Regardless, a simple test to rule out HDCP handshake problems is to use component cables if possible. If it works, its a HDCP problem likely caused by the different region of the DVD vs your TV.
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