I agree with Mack_JB's reading. If he's wrong it's errata. In ODE:
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6.01.1 Limit on ramming. An Ogre may ram no more than twice per turn, or one enemy Ogre per turn.
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6.06 Reducing infantry. An Ogre does not literally “ram” infantry, but any Ogre with AP weapons (or a Superheavy Tank) may move into an infantry hex as though the infantry were not there. If the Ogre/SHVY has any antipersonnel weapons left, the infantry unit is automatically reduced by one squad. This does not count as an “attack” for the AP weapons. An Ogre/SHVY in a hex with infantry may expend a movement point, stay in the same hex, and reduce the infantry again. When all its AP weapons are gone, an Ogre/SHVY can no longer reduce infantry in this way.
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The two-ram limit only applies if 'not literally "ram"' ing is still somehow "ramming" . 'Literally' is one of those words usually best left out.
A fix could look like
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An Ogre with AP weapons (or a Superheavy Tank) may move into an infantry hex as though the infantry were not there. If the Ogre/SHVY has any antipersonnel weapons left, the infantry unit is automatically reduced by one squad. This does not count as an “attack” for the AP weapons, but does count against the limit of two rams.
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or
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... This does not count as an “attack” for the AP weapons, nor does it count against the limit of two rams.
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Can an Ogre that has rammed twice move into a third hex of INF? I think yes. I'd have to check that the online game got that detail right, but I think I saw it miss that.
(I have a short list of other nits with this rule, but usually I'll just use the overrun rules instead. Overruns are fun.)