1. Yes
2. Your options to get out of Y are:
* Upgrade using BA miles (40K r/trip)...but the ticket has to have been booked with BA to do this, and be a H of higher class (which yours isn't). Oh, and it has to be on a BA flight number so you can't have your cake and eat it with miles earning

. And it would only get you to WT+.
* Pay cash
* That's about it