I think he is saying that you should expect the maximum deviations to be n/m * Fref and n+1/m * Fref where n/m is the closest integer ratio that gives you an exact frequency that the NCO can make without jitter.
Example: Fref is 1 MHz, Fout is 211 kHz, 32 bit accumulator. This gives a step size of Fout/Fref * 2^32 = 906,238,099.456 ~= 906,238,099. This will roll over the MSB on 4 or 5 clock pulses. So your Fout will be composed of pulses of 4 clocks and pulses of 5 clocks with high and low times of 2 and 3 clocks. The corresponding jitter will be... geeze, this is hard isn't it?
I think you will get Fref/6 and Fref/2 as the range of jitter. I think the formula should be...
Fmax = floor(Fref/(2*Fout)) * 0.5 Fmin = ceiling(Fref/(2*Fout)) * 0.5 Fjitter = Fmax-Fmin
I expect you will see main peaks in your FFT at Fmax and Fmin, no?