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Extension ok.... but won't have much impact
Given the level of trade (in)activity that I have seen in many of these leagues I doubt that extending the trade deadline will have much impact.
However, in light of the circumstances I think it is the decent thing to do. There won't be a lot of extra activity but it will give those who wish to have more time the opportunity they need.
For any purists out there who may complain about "rules are rules" I would point out that about 2 or 3 years ago the trade deadline was extended by one week due to a clerical error. So if we can extend for a clerical error certainly we can extend for something like what happened last week.
In retrospect I think that postponing games last week would have been appropriate but hindsight is 20/20.