Resizing a 18MP image to 10 MP using a decent algorithm is not very much different to using a 10MP sensor with larger pixels in terms of signal processing. After all it's always about integrating photon impact over time and position - it doesn't matter so much if it's done in the hard or the software.
This may be right for DSLRs with big enough pixels. For point'n'shoots I personally think it's wrong. As far as "dynamik range" is concerned, the photogate of the pixel is "full" when a certain amount of photons are collected. The bigger the pixel, the higher the capacity of the photogate, the higher the dynamik range.
Edit: By the way, I really like the pictures of the camera. Looks like a small camera with good ergonomics and good built quality to me.