I'm not exactly sure how Genshiken flies overseas... ^^; There's so much about it that ties into the Japanese fandom exclusively (how many Americans collect doujinshi, go to comic market, can buy capsule toys out of machines, go to maid cafes, ride trains, have school festivals, hang out in Akihabara, or know the theme songs to obscure 70s shoujo series?), not to mention the whole idea of being otaku as a gigantic social stigma...
I suppose that just getting half of the references makes the show alright... but I can't seem to wrap my head around anyone thinking it's hilariously funny unless they've actually been a part of the Japanese fandom.
The 2nd season is apparently trying to change that. They're introducing an American girl to the group. Maybe that will address my main complaints about Genshiken as an import :P
Right now, watching Genshiken and getting (or just pretending) to get the jokes is more of an otaku street-cred issue than it is one of actual entertainment. If you can watch Genshiken and actually understand most of it: you're a dork-king. Cultural notes every 5 seconds to explain jokes isn't exactly my idea of an accessable or enjoyable comedy.
Apparently they're introducing two BL fanservice characters this season too. Some actual boys to rub up against each other and send the girls into hysteric fits of squirmy giggles.