Why in the world would Orthodox Jews 'fear' Obama? I have heard NOTHING that would suggest (to me, anyway) that Obama would be anything but fair & reasonable towards all people.

...oh, maybe that's the problem. Special interest groups are not always interested in 'fair & reasonable' attitudes...they prefer attitudes which favor their own concerns.
It is the same whether we are talking about gun owners, oil companies, illegal immigrants, ...or religious groups.