Basically yes, according to all right granted to stack exchange in particular the right to redistribute the work. The grant agreement is the 3. of the license which doesn't survive to the termination. There is some bits of the license which survive, but it is just to enforce the no warranty clause (5.), the liability clause (6.) and the termination clause (7.)
Here is my reasoning.
First here in the term of service of stack exchange https://stackexchange.com/legal is the license the author of content gave to stackexchange.
You agree that all Subscriber Content that You contribute to the Network is perpetually and irrevocably licensed to Stack Exchange under the Creative Commons Attribution Share Alike license. You grant Stack Exchange the perpetual and irrevocable right and license to use, copy, cache, publish, display, distribute, modify, create derivative works and store such Subscriber Content and, except as otherwise set forth herein, to allow others to do so in any medium now known or hereinafter developed (“Content License”) in order to provide the Services, even if such Subscriber Content has been contributed and subsequently removed by You.
"You" refer here as an user behaving as an author.
As far as I understand, the only licence given to stackexchange by users as an author is the CC-BY-SA 3.0 license (https://creativecommons.org/licenses/by-sa/3.0/legalcode )
As the most famous GPL license, CC-BY-SA has a copyleft term, implying the right given in the license can't be removed.
CC-BY-SA 3.0 text in 4.a "You may not offer or impose any terms on the Work that restrict the terms of this License or the ability of the recipient of the Work to exercise the rights granted to that recipient under the terms of the License." (Here You reference to the distributor of the work hence stackoverflow company)
"You" here is stand for the stackexchange company
Among these right, there is a particular right on 4(c) of CC-BY-SA 3.0 license
The credit required by this Section 4(c) may be implemented in any reasonable manner;" (extract of CC-BY-SA 3.0 terms)
And this is the right for an user to implement it in ****any**** reasonable manner. This right is is restricted by the following enforcement in the same term of service of stackexchange
In the event that You post or otherwise use Subscriber Content outside of the Network or Services, with the exception of content entirely created by You, You agree that You will follow the attribution rules of the Creative Commons Attribution Share Alike license as follows:
You will ensure that any such use of Subscriber Content visually displays or otherwise indicates the source of the Subscriber Content as coming from the Stack Exchange Network. This requirement is satisfied with a discreet text blurb, or some other unobtrusive but clear visual indication.
You will ensure that any such Internet use of Subscriber Content includes a hyperlink directly to the original question on the source site on the Network (e.g., https://stackoverflow.com/questions/12345)
You will ensure that any such use of Subscriber Content visually display or otherwise clearly indicate the author names for every question and answer so used.
You will ensure that any such Internet use of Subscriber Content Hyperlink each author name directly back to his or her user profile page on the source site on the Network (e.g., https://stackoverflow.com/users/12345/username), directly to the Stack Exchange domain, in standard HTML (i.e. not through a Tinyurl or other such indirect hyperlink, form of obfuscation or redirection), without any “nofollow” command or any other such means of avoiding detection by search engines, and visible even with JavaScript disabled.
"You" here refer to user of content and especially redistributor of content.
So my step conclusion is that the stackexchange company break the term of the license. So the following part of the license should apply:
This License and the rights granted hereunder will terminate automatically upon any breach by You of the terms of this License. Individuals or entities who have received Adaptations or Collections from You under this License, however, will not have their licenses terminated provided such individuals or entities remain in full compliance with those licenses. Sections 1, 2, 5, 6, 7, and 8 will survive any termination of this License.
At this point, only sections 1,2,5,6,7,8 survive, It is essentially to make sure that the termination clause (7.) stay without removing the no warranty clause (5.), and the liability clause (6.) which protect the sender of the license. Basically all the purpose of the license is left and in particular the license grant (3.) which give to stackexchange right to distribute the work doesn't stand anymore.
To address a comment given bellow, there is no custom licence of stackoverflow in the term of service. The only licence given by an user about it's "Subscriber Content" is explicitely the "Creative Commons Attribution Share Alike" (with a link to CC-BY-SA) as it is quoted in the first extract given in this answer.
To address the other comment given by same user, the stackoverflow doesn't add additional term to the licence, but add restriction in the way the user can use the distributed work.
CC-BY-SA 3.0 text in 4.a "You may not offer or impose any terms on the Work that restrict the terms of this License or the ability of the recipient of the Work to exercise the rights granted to that recipient under the terms of the License." (Here You reference to the distributor of the work hence stackoverflow company)
"offer or impose any terms on the works" is not limited to modifying the license (actually you are not allowed to modify the license.) It include all other means including the part of the term of service;
Note that stackoverflow doesn't receive a license different than CC-BY-SA 3.0 He just ask only for this license. He just add additional terms to the license by another way (the term of service) which apply only to the redistributor of the work. Adding this terms makes a breach on the license which make it terminate for the stackoverflow purpose.