You're right. It really would've been nice for the author to offer a direct proof.
However, while I'm a bit rusty, I think it basically has to be true. For there to be an inconsistency, 1/0 = 0 must either
a) imply the negation of some previous theorem of arithmetic or
b) imply that 1/0 = x, for x != 0.
I think a) can only be true by way of b), since no existing theorem of arithmetic involves the expression y/0 for any y. I confess, I don't know the right way to prove that b cannot be a consequence, but it doesn't look like one.
Edit: I think it's just trivial to take a model of the existing axioms, then add n/0 = 0 to the division relation.
It may be helpful to observe that while using the same symbol '/' in both cases is confusing, mathematical theorems are not about symbols, but about particular mathematical objects. The old theorem is about the division relation defined for real numbers != 0, the new one is a relation defined for all real numbers, that just happens to coincide.
However, while I'm a bit rusty, I think it basically has to be true. For there to be an inconsistency, 1/0 = 0 must either
a) imply the negation of some previous theorem of arithmetic or
b) imply that 1/0 = x, for x != 0.
I think a) can only be true by way of b), since no existing theorem of arithmetic involves the expression y/0 for any y. I confess, I don't know the right way to prove that b cannot be a consequence, but it doesn't look like one.
Edit: I think it's just trivial to take a model of the existing axioms, then add n/0 = 0 to the division relation.