My understanding is that the judge stopped implementation of the "Do Not Call" list because, by his reading, the Federal Trade Commission did not possess the legal authority to enact regulations governing the telemarketing industry. Rather, the Federal Communications Commission wields that authority, but it had not exercised it.
If the judge's understanding of the FTC's jurisdiction proves correct, we should applaud him for halting the unauthorized expansion of government authority by the FTC. So those decrying judicial activism might want to consider that, as a society governed by laws, we must follow those laws despite the occasional setback to our legislative preferences.
In any event, Congress and the Bush administration can easily overcome a technicality like this by either granting the FTC truly legal jurisdiction over telemarketing or by tasking the FCC to implement identical "Do Not Call" standards. It seems to me a temporary setback at best. If the judge's reading proves inaccurate, then an appeals court should overrule the decision.
-- Todd/Leviathn