Thank you for the answers.
Mainly, yes. Members of our project are in Sweden and visitors to our blog, no reason to route the traffic via US. As bonus this would reduce the tracking a tiny bit. I guess most users of Steem are in US, but hosting an instance in EU could be another good "seeling" point of Engrave for users in EU.
Is it possible to edit the existing Engrave themes as a user or create own?