The short answer is No.
Also, to clarify the "two items" the 1994 law says that if your rifle has a detatchable mag, you can only have ONE more evil item from the 1994 list. On AR15's that is the pistol grip. (Or butthole grip)
Here's a good thread on the issue: http://www.ar15.com/forums/topic.html?id=46185
Read the post from Circuits at the bottom, and keep in mind that the HK's and FAL's that were imported with the butthole stock were "IMPORTED", meaning that they were no only subject to the 1994 law, but ALSO to the 1989 law on imported rifles.
Hope this helps!