I think there's a bit of a rush to panic about data balkanisation here; remember, this is not a ruling that applies directly to Facebook, but to the information commissioner of Ireland.
There's no new policy and no court orders to do particular things. What's likely to happen is an extensive legal limbo. We may even end up with a special Snowden version of the cookie warning: "Data stored on this system is subject to mass surveillance and may be accessed by the security services without a warrant or due process".