While I didn't blackout PHPFusion Romania I did replace the start page with this one. It was uncomfortable enough because we didn't have the Latest Active Threads panel handy but we didn't get complaints, though. :)
The main problem is that mainly big websites and he data centers are located in US so the terms applies to all of them and the domains linking to them.
It applies on the Users / visitors who came from US. And if you are hosted in a US based company, then it applies to your site.
And yeah... miskith is right that Your country may be inspired by U.S.A which will create a censored condition and will stop the inter linking between the whole world...
If I know the law applies only to the U.S.A., but... ...Your country may be inspired by U.S.A.. ...Many large sites have data centers in the U.S.A.. etc etc...
Imagine your life without half of the existing sites, which are your favorites...