To RAW:

You were right. I saw V for Vendetta in IMAX this Friday, and your assessment of the movie (now that I've seen it for myself) was correct: there's no built-in "hey look this is really Bush" moments or anything.

That being said, they did all they could to draw as strong a parallel to Nazi Germany without actually just blatantly saying so. Not only did they change the name of the PM to Sutler (to sound similar to Hitler), they gave him facial hair evocative of the man, created a "symbol of the Party" that looks vaguely swastika-ish, and whenever they showed Sutler's "rise to power" in flashbacks, it was always in the form of news conferences where he was waving his hands and framed by flags very similar to the old newsreel footage of pre-WWII speeches by Hitler.

So, you were right. But I can see how either side (given their filters) might walk away with the idea that it was aimed at Bush, because the loony left spend a lot of time trying to draw Bush-Hitler parallels in their rhetoric, and so they'll be looking for an opportunity to do so just as, the moment the hitlerian references become obvious, the hard-core right wing will become defensive.

Steel-toed Catapillar boots are very handy when it comes to smashing cans.

Makes it way fun, too.