keep in mind a couple things. First of all, many states already have laws against modifying all sorts of stuff, primarily exhaust. There is really nothing new in the oregon statute. Most states already prohibit modifying exhaust, modifying fuel injection etc. Its usually guised in terms of fuel economy or clean air.
The other thing is that like any other legislation, the devil is in the details. The proposed statute does not prevent aftermarket parts for everything. It simply sets a framework for later regulations. Its the regulations that will be the problem. In most cases, the regulations specifically exempt things like some off road vehicles, racing vehicles etc etc. For example, oregon has a house bill, 3527, which specifically exempts racing vehicles from certain modification prohibitions.
Finally the issue of it being an emergency is nothing more then procedure. If a bill is not an emergency it will typically not be effective until a certain date in the future. Legislatures get around that by saying the bill is an emergency measure so it can be effective when its passed.
I find it amusing that someone will find a statute, read waaaay more into it then the the actual language, and then blame it on obama and socialism. In stead of focusing on which particular rule making body passes regulations and making an effort to try and get your point across to that particular body, I suppose its easier to just run around with your hair on fire predicting gloom and doom.