The power will be low enough to fit within current FCC regulations (as who would be stupid enough to create something that wasn't). Current Fem to Cell already does this or else every one of them would require an FCC license and that is not happening.
The femtocells offered by mobile providers usually have GPS so they will only work in areas covered by that provider's license. So they are properly licensed transmitters, under the provider's license. Are there existing femtocell products out there that are not associated with a mobile provider?