I know ||n|| = 1, as it's a unit vector.
IF n is a unit vector, that's correct.
In the lower part of the page, ||n|| may not be 1, but is a scalar (a number) which is the absolute (unsigned) magnitude of vector n (the length of the vector) - the text mentions that, "if n is not a unit vector", then the unit vector would be n / ||n||. That representation results in a vector in the same direction as n, but is of unit length, whether the original n is a unit vector or not.
For the purpose of the page you posted, the actual value of n doesn't matter. The formula merely demonstrates how a vector dot product, and the projection of v on n, is calculated.
For the purposes of illustration, assume v = (1,2,3), and n = (2, 0, 0). First, determine the unit vector in the direction of n:
||n|| = sqrt( nx2 + ny2 + nz2), where nx, ny, and nz are the x, y and z components of n. Because (in this case) ny and nz are 0, ||n|| = sqrt( 22 ) = 2.
So the unit vector along the x-axis is n / ||n|| = ( 2, 0, 0 ) / 2 = (2/2, 0/2, 0/2) = (1,0,0). The division of a vector by a scalar is defined as a vector formed by the each component of the vector divided by the scalar.
The projection p of v on n = ( v dot n/||n|| ) n/||n||
The dot product of two vectors v and n is (vx*nx + vy*ny + vz*nz). Since it was determined that n/||n|| = (1,0,0), the dot product v dot n/||n|| = 1*1 + 2*0 +3*0 = 1.
The projection p = 1 * n/||n|| = (1,0,0).
Does that help the understanding?