It's a typical "scope of use" clause - you can literally take the title at it's word - "USE OF THE PRODUCTS; CONTENT IN THE PRODUCTS".
In other words, what you draw with "your" version of SketchUp, and what you do with said drawings, is your business. You just can't take SketchUp apart and modify it, sell it, bundle it... yada, yada...
It's like renting a car and pimping it out, or letting someone else drive it - you just don't do it, but you can drive it wherever the heck you want, and in most cases, use it for your business, "but" it's still "their" car.
SketchUp belongs to Trimble - works created with the software belong to you.