Hello!
It does not calculate wingtip clearance in a 30 degree bank.... I;m not sure but in a turn rad alt may over read considerably due to simple trigonometry.
It certainly does. But if they have done their homework before taking off (i.e. practised in the sim and studied their trigonometry), then they knew at which radar altitude in level flight they can safely execute a 30 degree banked turn without hitting anything. Plain mathematics and physics.
And as for display regulations and pilots observing them, just look where the "big" airshow crashes with lots of fatalities took place. I don't see Portugal on that list, but rather countries like Germany, one of the most severly regulated places in the world... (and if I remember correctly, the UK has lost a few dozen spectators in airshow accidents as well over the years).
Greetings, Max