Lloyd, who had an extensive playing career, with 407 first-class matches and 288 one day games, is a well-known lover of tripe and has regularly discussed his passion for the product during quiet times in his commentaries for matches on Sky TV.
Sir Norman said: "This is more than disappointing. We had high hopes for this advert, which took a modern and upbeat approach to tripe and was deliberately designed to appeal to the under 65 audience."
He said the TMB was considering releasing the advert in selected cinemas as an alternative. "It would be a real shame if this never made the light of day," he added.
The ban echoes similar events in 2015, when a controversial advert for A Brief History of Tripe was withdrawn after complaints by Doreen Partington that a photograph of her reading the book was used without permission.