The extent of what SecuROM can do is up to the game publisher. BioShock was one of the first games to ship with SecuROM in which people were limited to "activating" the game three times before needing to call a toll tech support phone line to ask to be given another activation. A strike towards an activation could've been anything from reinstalling the game to downloading Windows updates.
2) To limit something beyond comprehension for no good reason at the expense of others.
Dude 1: My school SecuROMed my prom because they were worried about people acting out of their order.
Dude 2: The server master SecuROMed his site when he added a download limit per day.