electure, I can't say that this installation is 100% code compliant, however the code does allow execeptions for inaccessible work. the closest example I can find is:
(1999) 336-18 Exception No. 1: For concealed work in finished builings or finished panels for (or) prefabricated buildings where such supporting is impracticable, it shall be permissible to fish cable between access points.

Yes, that referrence is for support, not protection, but it shows the variances alowed for fishing wires. I've had installations such as the one I described above inspected many times by some tough inspectors and never been questioned about the method. On new installations you would be hard pressed to find even a minor violation in work performed by my company, I know the inspectors can't. The only red tag we've gotten in the last 2 years was because we ran a phone jack without pulling a separate low voltage permit, in other words the county wanted the $50 for the permit.