Hi CTD,
I don't believe Hugh Ross is a hereticks. I have been reading The John Ankerberg Show facts that really matter book and Ross is a Christian and reads the Bible and believes God created the Heavens and The Earth and Humans too. But I don't just follow Ross I watch what they all have to say and then pick up my Strongs Exhaustive Concordence of the Bible and the Interlinear Bible of Hebrew Greek and English and look up the translations word meanings for myself. I'm not a King James only person though I do have the King James and quote from it as it's public doman to do so. But I prefer this translation better as well as the One New Man Bible.
But the world that then was, being overflowed with water, perished:
2Pe 3:7 But the heavens and the earth, which are now some people would describe that as earth ages. In translation like described on this site are those verse you posted.
Three World Ages Bible Study

http://www.biblestudygames.com/biblestudies/threeworldages.htm

Plus and these verses are taken fromn the King James...

http://www.bibleresearcher.org/Bible/comments/three-world-ages/three-world-ages.html

But the heavens and the earth, which are now,
which is now this age. The earth age we live in now is almost seven thousand years old.

Genesis 1-1 - 3 Earth Ages - Pastor Arnold Murray - In the Beginning 3 of 3 - YHVH .

http://www.youtube.com/watch?v=lMfg4esLL2A

Which can make it look young and old. The word meaning from the orginal words translated can show this meaning as well. Since it can when you research the language, Hugh Ross could be right in some aspects as well. John Ankerberg thinks so because of the language. I am highly interested in these subjects it is interesting and just recently ordered the Three World Ages DVD so I can look up all the scriptures but remember listening to the Cassette Tape on it long time ago. And know already what certain words their orginal meaning are now. Ordered the three different views DVD's on Hell another subject of course but one I would like to see debated in the same fashion as the DVD format posted above was. It would be an interesting debate of why they each transalated it or view it in that fashion. I believe it's the translation and meaning that can make the difference in what they believe to be true as well. But for me I like to look it up myself to see what the orginal translation is. And what it could mean. Plus, I believe in the flood and Pastor Doug said that things soaked in salt could actually look older. And that seems to be true as well. So many factors to consider but I think it's the translation that matters. There's always hope of course.
Always My Friend.