As it turns out, not only the {diff} is not passed to the changelogentry.tmpl for RSS, but the RSS template set itself is lacking some templates needed to display diffs.
I've done a quick-and-dirty patch adding raw diffs to the Mercurial RSS template set. The patch is based on the version 2.2.1 of Mercurial. It modifies the Mercurial source (webcommands.py) in addition to the RSS template set, so you'll end up using a patched version of Mercurial itself, not only the templates.
The patch can be found on the so-10796514 branch in my copy of the Hg repo on Bitbucket. Feel free to use it.
Here's how the modified changelog looks like on my machine:

I guess it can be improved from this point on.