I, for one, think it's hilarious.
I think that it was absolutely awesome and the guy that threw the shoes is my hero of the week.
He has every right to be pissed off at America (and thus Bush). We're in his country when we shouldn't be. We're trying to control it and mold it into a mini-model of the US. We're chasing a man across said country that is more than likely dead or hiding in any one of the other nations that would shelter him.
And for those of you saying that it's rude and disrespectful to do so, what about all of us Americans that burnt Saddaam's picture, wrote crude phrases on it, wished death on him, rejoiced at his hanging, call anybody Arab a "towel head"? We're just as disrespectful to them, just in a different way. But we're "America: The Perfect Nation. The Shining Palace on the Hill. The Beacon of Justice" so we never do anything wrong.
Seriously, it was one guy speaking his mind (or, you know, actually literally giving Bush what he had coming). If every paranoid, nationalist, close-minded American had a shot at Bin Laden, Saddaam or anyone else they didn't understand it'd get the same reaction your giving only the other way around. We'd be the ones saying "Here, here! This guy's great for giving that ******* whatfor! How dare he attack our country, killing innocent people!" and they'd be the ones going "How could they do that! That's so disrespectful!".
So yeah, that's why I think it's great.