It seems to me that they say they will use your photos on their website worldwide for as long as they want but will seek your permission to publish your work in DCM or other Future publications.
Here's the extract
3.1 CONTENT SUBMITTED TO READER GALLERIES AND PORTFOLIOS
With respect to posting your digital photographs and portfolios on this Website (via the Reader Portfolios section), you grant Future Publishing an irrevocable royalty free non-exclusive worldwide license allowing Future Publishing to display your work on this Website (or any website that may replace it) and in this Website's newsletter. Future Publishing undertakes not to publish your images in Digital Camera magazine or other Future Publishing publications without seeking your permission first.
Foggy
My Gallery.I Support