> WayBackMachine anyone?
Google is not being asked to delete data, they are being asked to delete indexes to data. Google don't have access to the source, so they can't delete it.
I don't think Google will even remove the page from the index, just the requested terms for the page will go.
> have your data too.
It is not "your data" it is data about you. I.e. the post above is your data. You could delete or edit it as much as /. allows.
If I tweet "MindPrision posted on slashdot on Thursday the 5th of June, 2014" that is not your data. It is my data about you. This new law gives you the right to ASK Google to remove the link between "MindPrision" and my tweet. Not to have the tweet removed from the web or to remove the tweet from Googles index.
So a search "MindPrision slashdot Thursday" would not return the tweet, but a search for "slashdot Thursday" would return the tweet.