BillieBob, you are correct that the ANO (article 79 in particular) doesn't describe how flight time should be logged. Paper and ink, paper and pencil, or electronic, all seem to be acceptable.
But we are now living under EASA, so I just checked CAP804. And things became a bit more complicated there, as usual. In the regulations themselves it states that electronic logbooks are OK for CAT use. But apparently for CAT only:
4 Format of the record
4.1 Details of flights flown for commercial air transport may be recorded in a
computerised format maintained by the operator. In this case an operator should
make the records of all flights operated by the pilot, including differences and
familiarisation training, available upon request to the flight crew member concerned.
4.2 For other flights, the pilot must record the details of the flights flown in a log. The
following format is strongly recommended.
Straight after this CAP804 includes a sample logbook page, with the instructions on how to fill it in. And in those instructions it states:
All entries in the log should be made in ink or indelible pencil.
(CAP804 as downloaded from the CAA website, Section 1 Part E Page 9 which is page 125 in the PDF version I have).
I have not checked the material that originates from EASA itself as the EASA website throws a mysql error, but I happen to have the AMC/GM to EASA-FCL (Annex to ED Decision 2011/016/R, initial issue, 15 december 2011) here at hand.
AMC1 to FCL.050 - Recording of flight time:
[...]
(c) Format of the record:
(1) Details of flights flown under commercial air transport may be recorded in a computerised format maintained by the operator. In this case an operator should make the records of all flights operated by the pilot, including differences and familiarisation training, available upon request to the flight crew member concerned;
(2) For other types of flight, the pilot should record the details of the flights flown in the following logbook format. For sailplanes and balloons, a suitable format should be used that contains the relevant items mentioned in (a) and additional information specific to the type of operation.
So the suggested format is no longer "strongly recommended", as CAP804 states, but is mandatory. And again there are instructions for use:
All entries in the logbook should be made in ink or indelible pencil.
In this particular document (dated 15 december 2011) there are no additional AMCs related to FCL.050. I don't know (and am not able to check) if an updated AMC regarding FCL.050 has been released in the meantime.
The conclusion that I (hesitatingly and tentatively) draw from this is that computerised records are not acceptable to EASA except in the case of commercial air transport. You have to do a paper logbook to fulfill the authorities requirements. Furthermore, the paper logbook has to be done in ink or indelible pencil.