Because the boxes and arrows style visualization becomes a horrific mess quite quickly when dealing with anything beyond toy examples. Look at the diagram for a 4 line for loop in your link, then think about what a 200 line function looks like.
I do use the tool which created the images for large functions (100.000 nodes was the max) and with zoom, search, etc it is fine. With graphviz it sucks, though.
Is SSA form not already a proper graph? I would agree that the visualization would benefit from a toggle between pure textual representation and one that includes the graph structure with textual basic blocks. LLVM already has graphviz output so perhaps a dot2html utility with some SSA smarts added would do the trick.