No, not a typo. This is quite the surprise. The Times has always struck me as rather conservative, as evidenced by its laughable/cringeworthy in hindsight endorsement of Bush in 2000. Granted, they went for Kerry in '04, but still.
Read their reasons here in an editorial entitled "The Times recommends... Barack Obama for president." Surprisingly, a friend who canvassed for Obama last weekend said she was shocked by how many people were either apathetic to the election or still undecided. Some cited reasons ranging from the false (he's a Muslim) to the perplexing (I'm still not sure how they're different). Heavy sigh. 43 days to go.