As Google discovered before it, when lazy ass lawyers were allowed out to play with the Google Chrome EULA, the issue of a copyright grab is not something that users take too kindly to.
Mark Zuckerberg tried fighting the Facebook fan flames with weasel words of the 'move along, nothing to see here' variety.
He stated in an official blog posting that "...we wouldn't share your information in a way you wouldn't want. The trust you place in us as a safe place to share information is the most important part of what makes Facebook work."
Great. Trouble is, the users just did not believe him I guess. Which is why more than 70,000 of them created a Facebook group to protest about it all. With a little bit of help from we the media the protesting seems to have worked.
"Going forward" Zuckerberg continues "we've decided to take a new approach towards developing our terms." Which is Much the same thing as admitting defeat or admitting he got it wrong.
It seems that "overly formal and protective language" will be pruned in order to make sure the "terms reflect the principles and values of the people using the service." I for one look forward to the "substantial revision" to come, especially if Facebook users get the amount if input into the terms document that Zuckerberg has now promised.