Nitpick, but this is a contradiction.
Contemporary fiction doesn't mean "current" (or least it didn't used to) it means "set in the time it was written".
I guess the word contemporary has been misused to the point of just meaning current or modern and I shouldn't nitpick it!
According to at least a few references, it very clearly applies to the two meanings. I couldn't find a single dictionary that excludes or seems to favor one over the other.
Your example of Braveheart, for instance, involves two views of the past through the lens of the _present_. So even in that context, both of those views are tinted by the experience and environment of the observer.
It makes the most sense in context, and the discussion is about a TV show and not literature.
Different nitpick: Mad Men first aired in 2007. Is an 18 year old show that stopped production more than a decade ago contemporary?