http://www.news4jax.com/news/18498895/detail.html And they call New Zealand a nanny state.
Although I can kind of see why such regulations may be needed to followed through for some books (like the ones for two year olds just learning to read, who may CHEW on it or try to eat the fuzzy fur or the rubber corners) I don't see why your bog standard paper-back should pose any threat in terms of lead poisoning.
I doubt the total amount of ink used in children's books would contain enough lead to poison a child, even if they licked every page. (In which case I would be more concerned about the other chemicals in the inks.) Lead poisoning by contact is also pretty... far-fetched when it's occasional contact with small amounts. There is a reason why women got lead poisoning when they slathered it onto their faces everyday.
Some of this concern is also a bit misplaced, as I am sure that quite a few parents are the ones handling the books, reading them to their children.
Much rather see people putting this amount of effort into getting publishers to use renewable paper sources and non-toxic inks.
And psshhh, death by reading too many books is good in mine.