Thanks for the link. I notice it says nothing about altering images. Which is important because EVERYONE alters images ALL THE TIME. Have you never heard of cropping? Modifying levels? Making various other cosmetic corrections? OMG, EVERY IMAGE IS A LIE!!!
The only arguably pertinent parts of the that checklist are the following two:
"1. Be accurate and comprehensive in the representation of subjects."
The edit helped accomplish this.
"5. While photographing subjects do not intentionally contribute to, alter, or seek to alter or influence events."
The edit did NOT alter the event; rather it helped show it more clearly.
So yeah, they're completely within the bounds of that code of ethics. Not that they're even journalists. They're a shoe company and/or its PR firm. So I'd say they're well above the minimum level in this case.