Parameterized vertex cover on $r$-regular graphs
There's nothing wrong with your solution, the exercise is just easier than you expected.

Your analysis correct, apart from missing out the $-1$, so it should be $k^{\mathcal{O}(1)}\cdot\binom{r}{k-1}\cdot n$, which is, of course, of the required form $f(k+r)\cdot n^{\mathcal{O}(1)}$, and the $-1$ doesn't really change anything.

The biggest mistake is writing $\mathrm{FTP}$ instead of $\mathrm{FPT}$. The first is a protocol, the second is a complexity class.

Moving to pure speculation, I would guess the authors were, in the second part, simply looking for reinforcement of the difference between $\mathrm{FPT}$ and in class $\mathrm{X}$ for every fixed value of some parameter (in this case, something like $f(k)\cdot n^{r}$ would work for the first part of the exercise, but not the second. The Hitting Set problem, as an example, has such an algorithm, where the parameter $k$ is the size of the solution, and $r$ is the size of the input sets; it's in $\mathrm{FPT}$ for every fixed $r$, but not in $\mathrm{FPT}$ for parameter $k+r$).