This isn't all that new, but it is still interesting. There was an article on this in the Toronto Star back in Jan 2001 (here's a Risks Forum reference to it -
http://catless.ncl.ac.uk/Risks/21.23.html#subj7 ).
Although it isn't mentioned in this reference, I understood that the Ontario Provincial Police had been in the forefront of developing the software, since they were aware of the data early on, but had no tools to analyse it.
As I recall, this can potentially cut both ways. A left-turning driver was struck at an intersection. Normally he would be at-fault, but he claimed that the other vehicle was travelling at a high rate of speed. Because the other car's airbags had deployed, the EDM held the information about the other vehicle's speed. It was retrieved (under warrant) and showed that the vehicle had been travelling at an acceptable speed, thus exhonerating the EDM's owner.
Separate from this, I don't think you can get away from such devices. The car manufacturers need them for info against frivolous "your airbag hurt me" lawsuits. Chalk up another unintended side effect of the litigious society.