This is good, and a direct result of the Snowden revelations - without those, the US would still considered to be a safe harbor for your data. I'm hopeful that this will create the kick that the US needed, now that actual income (and high income, at that) is becoming threatened by the NSA. Of course this isn't the end to their data theft. They're likely to get the data from their Five Eyes European friends instead, but still - a good victory.
Sure. The next step would be to demand EU nations which violate the safe harbor EU rules be either thrown out of the EU (GB, but probably also Neitherlands, Sweden and Denmark), or fix their privacy laws. It cannot be that the GHCQ acts on behalf of the US on EU data and allows easy circumvention of basic privacy principles.
Amazing to see what one determined person can do!