The original poster is referring to building time for EASA purposes so most answers to this thread are irrelevant.
Although the time is acceptable for FAA licences, as well detailed and explained above, it will not be recognised in Europe....just ask the many people who have returned and ended up re completing hour building at great expense.
They even reject it in Turkey! (which although not an EASA state follows EASA FCL)
I can rattle off quite a few names of people who had EASA commercial licence applications rejected for this reason.
BNB2 you are basically encouraging people to commit fraud when applying for their pilot's licence once back in Europe.
In the UK this is punishable by a 2 year prison term and a £5000 fine.
It even appears in the UK guidance on licence issue in CAP 804 (the largest issuer of EASA licences over 25% of them) which states
Logging of Flight Hours gained in the USA
Some flight hour recording practices allowable in the USA do not comply with European and UK requirements. In particular:
• 2 pilots flying together in a single pilot aircraft both claiming P1 hours;
• One pilot accompanying another on newsgathering or traffic control flights and claiming P1/PIC when they have not acted as Captain or signed for the aircraft.
Flying hours of this nature cannot be credited towards the requirements for Part-FCL or UK Licences.
Pretty black and white to me.