Personally I think you could ignore it unless your website is really really big. If the latter, you'd better contact a lawyer for better assistance.

The correct answer is:

If you sell, market, or conduct research in the EU / EEU then you must have GDPR compliance.

Otherwise, it's not required.

I don't promote this particular add-on but my feeling is that implementing something similar to GDPR is to be recommended for all forums, whether or not you have members from the EU. If it does nothing else, it delivers a clear message to your members that you take their privacy seriously and that you have taken all available measures to secure that information. Additionally, it tells them what they need to do to remove their information and accounts if that is their wish.

It's only a matter of time before this sort of thing is legislated in non-EU countries in the west as well. Think oif GDPR as a wake-up call for forum owners. It's already woken up consumers (your members) to their rights and to the issue of how you are safeguarding their data.

And by the way that includes converting your site to HTTPS (SSL), if you haven't already done so. Asking your members to enter passwords on nonencrypted connections is basically saying, "Yeah. We don't really care if your password is intercepted or stolen".

How would you go about downloading the list in AdminCP? I'm not seeing the new page.

In view of these comments I deem I don't technically need this. For user peace of mind I'd still like to offer this but as the current state of the mod is insufficient for the quoted reason I'll hold off for now and keep an eye out for an update that fixes said situation.

Anyone know where this "new page" is?

yeah that page is nowhere to be seen

Same here! :(
Upon activation of the plugin the forum totally crashed. With debug mode/deactivation of plugins everything is OK.

Is there any other step that we may need to do in the installation process in order to make it work?