(in reply to your recent edit) I don't think Atheists suffer from Phobia - they just don't believe in God, full stop.
No, I don't think Theophobia with negatively affect our time. It is an irrational (abnormal) fear - a phobia, a psychological (can't spell it!) thing.
In saying that, I think it might be good to be afraid of God a little. If we are afraid of God, we might obey him, the same way you obey your parents in fear of more household chores!
But, maybe it's not good to fear God - we are supposed to show our love and devotion and submittance, right? Well, it might be hard to fear and also be devoted to God at the same time.
I don't know, . Interesting question. I think that I would write up a list - pros of fearing God and cons of fearing God. Then I could decide.
However, I don't think I suffer from theophobia. I'd like to say I'm not afraid of God - more afraid of Judgement day, rather.
xxx