I do not have kids and do not watch much TV, but I have never seen a commercial for Toysrus or any other related type of business. I know that there used to be a loophole where channels from abroad (different jurisdiction) did show commercials for kids, but I'm not sure if this is the case today.

Generally speaking, the law is quite clear: Ads specifically target towards children is illegal. Ads than are meant for grown ups, but is likely to be seen by children also has to adhere to certain limits.

I have to say I'm really happy with these laws. The same goes for the law that prohibits ads for alcohol containing beverages.