Yes.
Is is still unethical if the professor argues that the lies were for the students' own good?
Yes.
Is it still unethical if, a few months into the course, the professor tells the truth?
Yes.
Is it still unethical if, a few months later, the professor tells the truth and one or more students says "you know, I understand now why you lied to us"?
Yes.
This really isn't a challenging conundrum. The student-teacher relationship is a special one. There are expectations that need to be fulfilled on both sides. One of the most basic ones that can be expected of a teacher is don't lie to your fucking students.
http://www.softwarepreservation.org/projects/FORTRAN/BackusE...
Otherwise, presenting informal proofs to students in engineering or science that would not be considered mathematically rigorous would also be a lie and unethical.
I don't have a strong stance whether his decision was ethical or not, just interested in seeing your opinion as you seem to be implying that it might not be :P