It was him that told us that as EASA only has domain over EASA CofA aircraft and that only time logged in EASA CofA aircraft was countable against the issue or revalidation of an EASA Class Rating. In order to gain an EASA Part FCL licence or add a Class rating the the time must be logged in an EASA CofA aircraft.
So lets follow that logic a little bit further.
If you want to fly an N-Reg aircraft in Europe, under EASA's proposals you would need both FAA licences and EASA licences.
Yet when it comes to revalidating that EASA licence (which is only required for EASA rules) you wouldn't be able to count your hours on the N reg aircraft towards revalidation by experience hours, because the aircraft was not an EASA CofA aircraft, it was an FAA one!
I somehow figure Justiciar might be correct, and we are reading too much into it.