Well you are entitled to your interpretation of their licence agreement, while I will stick with "non-warez" sites
And Brent - That's actually not true - If you could prove that your forum on a warez site was legal and did not allow discussion of warez topics, and was simply for a community and a general chatting board, they would be hard-pressed to find a legal reason to revoke the licence as the board itself does not break any of their laws...
And even if they did allow warez discussion, as long as links are removed and file-sharing not done via the board, they still can't shut it down - Talking about it isn't illegal...
Chris