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Why do you imagine it makes sense to pass a boolean as the
target?  What do you think that should do?  As the message
said, a bool object is not callable, and, from the docs:

"""
`target` is the callable object to be invoked by the `run()`
method. Defaults to None, meaning nothing is called. 
"""

It doesn't make sense to pass True (or, e.g., an integer,
string, list, dict, or anything else that isn't callable).

Note that it's not true that Python 2.4 (or any other
version of Python) accepted a boolen here either; e.g.,

$ python
Python 2.4.3 (#69, Mar 29 2006, 17:35:34) [MSC v.1310 32 bit
(Intel)] on win32
Type "help", "copyright", "credits" or "license" for more
information.
>>> import threading
>>> threading.Thread(target=True).start()
>>> Exception in thread Thread-2:
Traceback (most recent call last):
  File "C:\Python24\lib\threading.py", line 442, in __bootstrap
    self.run()
  File "C:\Python24\lib\threading.py", line 422, in run
    self.__target(*self.__args, **self.__kwargs)
TypeError: 'bool' object is not callable