1. There is a 4.7.0.76
BlackBerry Storm OS 4.7.0.76, other versions left dead in their tracks : Boy Genius Report
2. Nope can't change it. There should be more info on how bb's handle memeory. However I think it's dynamicaly allocated some how. Not sure, just a guess.
3. No you can't change the intensity of the flash. Which is an LED. LEDs over time do dim out after use.
Tip open your "Video Camera" goto options set video light to on. Now every time you launch your video camera the LED turns on for 45 seconds or so. Makes a great flashlight at the cost of some battery life.