Securities in the EU are black and white as well. There are some exemptions when the total income from the ICOs are low enough. I don't know if this is possible in retrospect, otherwise KYC and an investment prospectus are necessary.

But say that the plans of the fee pool were to be cancelled (no FUD please, this is purely hypothetical). Would that suddenly lose the value of holding SLT?

If the fees are burned instead of redistributed, I wouldn't mind. Sure, there won't be staking anymore and there will therefore be more selling pressure. At the same time selling pressure will decrease due to lower circulating supply. If the fee pool has to be cancelled and if burning tokens is an option, I would not mind it at all.