I think using a fake address is a good way to get the manufacturer of Blue Widgets to hire a private detective to track down your real address.
"How may I violate the law without getting caught" is not the correct question. The correct question is "How may I use the trademarked term 'Blue Widget' on my website in such a way that I do not infringe the trademark" is the correct question.
There are many ways you can use a trademark without violating the law, and I think at this point you need to consider whether your business model is a valuable one if it means it will expose you to legal liability that can force you into bankrupcy.
I think you need to be asking an attorney for legal advice, not the trolls at webmasterworld. How about this: go ask the attorney if it would be OK if you register your domain with a fake address so the trademark owner's process server can't serve a complaint on you. When he's done laughing, he'll present you with a bill for a lot more than the free advice I'm giving you now.
There is a legal principle called "estoppel". Try a google search or look it up in a dictionary. The way it applies to trademarks is that it means that if a trademark holder doesn't take legal action to stop trademark infringement, then they lose all rights to the trademark.
How much do you think it's worth to the owner of the Blue Widgets trademark not to lose their most valuable intellectual property? I think it's worth a lot, certainly worth enough to them to pay a private detective enough that he'll do what it takes to haul you into court.
Of course, that will be after they send a cease-and-desist letter to Google telling them they must stop serving adsense ads for blue widgets to your site. I think that alone will be enough to convince google to kick you out of adsense. Google has very deep pockets these days, but they could be emptied quickly by the wrong kind of lawsuit.
Here's a valuable tip, my friend. Rather than hunting for the legendary twenty-dollar keyword, either develop a website about your hobby, or, if you don't have a hobby, go find one and then develop a website about it. It's much easier to own the I'm Feeling Lucky spot at google for a niche keyword than to even make the top ten for a competitive one.
And it will keep you out of trouble with the law.