What is illegal in one country can be totally acceptable in another
Perfectly true. In the former German democratic republic software was like carbon dioxide: once emitted everybody was allowed to use, copy and distribute it.
The problems with the Skype EULA are
1. you are not allowed to proof a hack in your copy of skype and are at the same time responsible for the consequences of that hack.
2. you can do what you want between the date of the termination of the license and the date of the deletion of all copy's under your control.
3. the period between both dates is unspecified.
4. Once terminated you can revive the license by simply getting a new copy and account.