1. It happens automatically when you reach 10,000 posts. You don't get a lapel pin or find out the secret handshake, though.
3. "Do" doesn't stand for anything. It's standard UK slang for a party. For some reason a few otherwise intelligent people here insist on spelling it "Doo." Don't ask me why. Maybe has something to do with their toilet training.
4b. You can preview your posts before you post them. Major changes to the way it works are problematical because FT uses a popular bulletin-board software package. Non-trivial changes, aside from involving a lot of work on its part, would have to be redone for each release.