I've seen several reports about this and though it's not particularly huge news, since Project Runway does make it's return tonight at 10pm for its season 6 premiere tonight, what the heck...
It's also Project Runway's debut on Lifetime after a legal tussle was finally ironed out to move the show from from Bravo.
Here's a blurb from MediaWeek, but it is not correct, at least in my recent experience, when it comes to what full episode content Lifetime makes available online:
Lifetime for the first time will stream full-length episodes of a pair of series, including hit show Project Runway, recently acquired from Bravo.
The women-dominant network is also planning to offer free, ad-supported episodes of the Runway-companion series Models of the Runway on Lifetime.com following its initial TV airing. Both shows premiere Aug. 20 at 10:00 p.m. and 11:00 p.m.
To date, Lifetime has shied away from posting complete episodes of any of its series online—though the network also boasts about 500 exclusive video clips on its site from its multiple series. Many cable networks are equally as cautious when it comes to distributing episodes on the Web—either on their own sites or via aggregators like Hulu—as they fear backlash from MSOs, which supply cable networks with carriage revenue.
I'm not sure how long it's been the case but Lifetime is definitely making available full episodes of Drop Dead Diva and Army Wives on its web site -- and probably more. Those are the only two Lifetime shows I looked for.