Thanks for adding a warning when slash arguments are disabled.
I tested with the latest 1.9.2 and found it to be working fine i.e. when slash arguments are disabled, the message "WARNING: slash arguments is disabled on this site and objects may not function as expected!" appears on the edit SCORM page.
I was a bit confused though, because, despite the warning, the object (an eXe package in the Moodle Features Demo course) worked fine! What does "... not function as expected" actually mean?
Also, how about adding an additional warning about SCORM not working when slash arguments are disabled to the configslasharguments lang string and rewording the warning on the edit SCORM page to make it less scary for teachers, for example
WARNING: This SCORM package may not work properly, as the "slash arguments" site admin setting is disabled. Please contact your site administrator.