I think there are other issues here. By Terry approving things, he makes them formal representatives of his Copyright, which dilutes his control and his enforceability of it. Any copyright owner has to be picky and somewhat choosy on who they allow to play with their copyrighted material.
I don't speak for Terry, so I don't really know if he is that picky, but he should be. It wouldn't take long for miss information, below quality products and and general thuggery to destroy what he has worked hard at. Just because you have 1 great product a year doesn't mean 20 horrible ones will not pull all that hard work down.
Have you ever looked at the Guild Companion members that write the books up? They are not necessarily better then us, but they are consistent and dependable and work hard at what they do. They are the guys that will inherit the Keys to Shadow World when it is time for Terry to move to Vog Mur, knock on wood he has a long and healthy life!
If you want to join the circle of Guild members then write, write and write more. We all love the world, appreciate the time that Terry and the rest put in, but that doesn't mean anyone of us can't step up and make it better. We all have that ability.
We do have the freedom to write our own adventures, timelines and activities, as long as we respect the individual copyright owners. We must make it clear that what we write is not endorsed by the copyright holders!
If we write a how to book for rolemaster, then that should be covered by Fair Use of their copyright (think "Windows for Dummies").
There is no reason why we, the community can not start a series of stories and adventures. The goal is to not confuse people by using home brewed rules, or stating which rules we dislike or ignore. The idea is to follow what they (ICE, Terry) have presented, and have given us the right to use (within reason of course). The entire time we encourage people to buy the relevant books.
Just my 2 bits.