File:
http://www.python.org/doc/current/lib/os-file-dir.html

Paragraph:
"""
makedirs( path[, mode]) 

Recursive directory creation function. Like mkdir(), 
but makes all intermediate-level directories needed 
to contain the leaf directory. Throws an error 
exception if the leaf directory already exists or 
cannot be created. The default mode is 0777 (octal). 
This function does not properly handle UNC paths 
(only relevant on Windows systems; Universal Naming 
Convention paths are those that use the `\\host\path' 
syntax). New in version 1.5.2. 
"""

I just os.path.makedirs(...) with a UNC path and it 
DID create the desired folder on the specified host.

The "in development" documentation is the same as the 
above documentation.

I did not see any reference to this in the existing 
documentation bug reports.

My particulars ...

Python 2.4.1 (#65, Mar 30 2005, 09:13:57) [MSC v.1310 
32 bit (Intel)] on win32

Windows XP-pro (all latest patches)

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I looks like the os.path (see ntpath.py) module has been
updated to deal with UNC-paths somewhere between the 2.2.3
and 2.3.5 releases.

Confirmed to work with python 2.3.5 and 2.4.1. It does NOT
work in python 2.2.3. 

I have submitted a patch
(http://sourceforge.net/tracker/index.php?func=detail&aid=1359879&group_id=5470&atid=305470)
that removes the comment.

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Committed patch by pterk.