That depends, if the message is comign from a SMS short code rather than a normal phone number then the carrier could remove the sender in question from their short code program if they sending out spam or fraudulently signing peopel up for premium services. I'm not saying that they necesicarily will, but they do have that ability.
No, its more like they charged everyone $1 for the movie night, then they all showed up and paid $5 to the theater for parking and then they proceed to sneak into the movie without paying for the actual ticket.
To my knowledge whitelist phones are normally those branded and sold by the provider, greylist phones would include all unlocked devices ported for other providers and blacklisted devices are usually those reported as stolen or disabled for other reasons (for example if your provider provides a subsidized or free replacement for a phone you claim is broken).
As this Slashdot I guess I shouldn't be surprised that no one RTFA. This was an app written by a BBC journalist for the express purpose of testing how vulnerable the platform was so that he would write a story about it. It was never uploaded onto any app store, he only tested it on one single development phone... his own.
You would actually need to make a rather large hole to take down a 747, unless you manage to hit some vital systems in the process. Think of all the planes that have been shot to hell in war yet still managed to return to base or land relatively safely.