Hmmm. Good news for Americans. As long as no copyright infringement is taking place, emulation for the purposes of interoperating with software is covered by fair use. Really, you can do whatever you want with software you purchase for private use as long as you're not sharing copies of the software with a few thousand of your closest friends. Hyperion may be limited to porting Amiga OS to specific platforms, but there's nothing to prevent a savvy programmer from modifying PearPC to run Amiga OS.
And if the AmigaOne goes out of production, bypassing the key or whatever other nonsense is in place to keep the OS from booting on unsupported platforms would be covered by a current exemption to the DMCA.