.. but bitmaps created with the font have no protection. In Germany, where the printing press was invented, they have unusually strong typeface protection ...
I am not a lawyer. But I think that it's alright as long as you write something, e.g. produce a bitmap of a word or sentence, you can distribute that bitmap. If you make a bitmap from each letter, and use that as a bitmap font, you are very close to dangerous ground.
Better use a free font. There are some usable fonts with very generous licenses. If in doubt, make your own font.
PS: does somebody remember any trials about fonts? It might be good to know some real life examples of court rulings.