Gavin Andresen has changed the Bitcoin code to block any output with a value of less than 54uBTC:
It's true, last payment less than 54 uBTC was on 12th June
What if someone send me less than 54 uBTC? 
The update isnt widely adopted enough to be effective yet.
The change only tries to prevent you from *Creating* outputs that small. It does nothing to prevent you from spending money you have, even if its just 1 satoshi.(edit: it just needs to be higher then 54ubtc if the public adopts the .0001 btc as the current normal fee)
(light reading)
The Fees to send many small bits of bitcoin will be higher then normal because of how fees work. Its why were trying to prevent people from sending you tiny transactons, It costs you more money then they are worth.