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What about this Florida church praying for the soul of Osama bin Laden?

Check out this Time magazine article about the Florida Catholic Church praying for Osama bin Laden's soul during services this Sunday.  What about it?  Is this right for Christian churches? 

It should be noted that Protestant churches don't pray for the dead compared to Roman Catholic, Episcopal and Anglican churches which do?  Protestants feel that once a person is dead that the fate of the deceased's soul has been decided.

Given that shouldn't churches have been praying for bin Laden all along?  What if he had confessed his sin and accepted Jesus as his Savior?  Would we see him in heaven?