It also notes that if you do not agree with the terms by July 15th you will no longer be able to use stars and that, once you agree, your stars will expire within 12 months and new stars within 24 months.
I think it's pretty safe to say that July 15th is probably going to be the day they implement the Stars for Wii points system, at least for europe, and I can't wait. You also get a small amount of stars for every VC game you buy! Cashback!
"Dear Nintendo fan,
At Nintendo we respect the privacy rights of our online visitors and we recognise the importance of protecting your personal details. To allow us to implement additional features on our website, to improve our products and to adapt them to our users’ needs and preferences, we need your permission to gather information about your online activities on our web site and with Nintendo’s products..
Also note that when you continue your Nintendo membership, from now on your Stars will automatically expire 24 months after they were added to your profile. Stars you have earned before the introduction of the new Terms and Conditions expire 12 months after the introduction of the new Terms and Conditions, which will not occur until June 1, 2008.
However, you will soon be able to swap your Stars for Wii Points in the Stars Catalogue if you linked your Wii Shop Channel account to your online Nintendo membership.
We look forward to seeing you again on our website soon, and hope you will enjoy the new generation in videogaming together with us!
Your Nintendo team"
A little more on the subject can be found here