I am not sure why they even bother...they are at the top of their fields and they are household names in America that are synonymous with magic. Not since Houdini has there been such famous magicians in show biz. The professional organizations should be naming prizes after them instead of them begging to be part of the in-group. You don't see Bill Gates, Jobs, or Torvalds begging to join the IEEE.
Keeping them out might have been due to some oldtimer in the organization that couldn't let go of the "never reveal secrets" gospel, whilst newer members at the top recognize that with todays social medias the cat's truly out of the bag and alienating the biggest household names is just counter-productive.
I think they've also seen that American Wrestling seems to be doing fine even if the entire fakeness is out in the open.
I think the difference here is that Penn and Teller are just as much historians of magic as they are magicians themselves. Accepting the honor is also accepting that the history is still relevant and worth celebrating. Making this into an ego thing misses the point a bit, I think.