Most of Emerald's so-called "privacy" and "security" features are actually means to spy on others while staying oneself "hidden". I refuse to implement spying tools in the Cool SL Viewer, and actually started to implement anti-spying tools against abuses (see the PrivateLookAt patch).
As for the "clothing layer protection", it also involves letting Emerald and other like-coded viewers know what viewer you are running (since it replaces a skin layer texture with a texture each viewer provides). This feature will therefore be implemented in the Cool SL Viewer only after it will be adopted (and re-coded properly) by Linden Lab, so that the Cool SL Viewer appears just like a normal viewer to Emerald and other spying tools.
Please, also note that for a pirate, ripping clothing textures is dead easy (whatever the viewer), and that the so-called "clothing protection" only removes
one of the many means to rip off textures from SL.
Obfuscation has never been the right way to fight piracy, much to the contrary: the more you obfuscate, and the cleverer and less detectable will be the tools to violate the protections you put in place. One such example is the removal by Linden Lab of the texture id reports (available in the Advanced menu of older viewers) for selected items. True, with this tool, you could easily set textures you don't own onto objects of yours, but then you would be easily spotted by anyone (they just have to use the same tool to check the texture id and can then see very easily if you stole the texture !). Removing this tool from the official viewer just incites pirates to either use a viewer with the said feature (and since the non-pirates will most probably run the newest standard viewer, they will not be able to tell if a texture was ripped off, by lack of proper tool to check), or worst, to use another, cleverer and undetectable method to rip off the texture (mind you, all the textures are stored in the cache folder, along with their id... once recovered from there, the pirate can simply re-upload the texture, which will end up with a different id and will make things more difficult, including for LL, to spot and convince the pirate).
