Overall this will be a scary time for all at VS and I would agree with VS_LHR that VS cannot afford a strike. I would suggest that the crew will very soon receive a new deal which will allow both sides to withdraw with everything intact. The fact is that VS "mismanagement" have allowed this situation to escalate when it shouldn't have.
I'm afraid I disagree; firstly with your putting the blame at the feet of management (because they were negotiating with a union who didn't actually know what cc wanted, so where probably told that 4.8% was the payrise the crew were fighting for), and secondly I don't think there is going to be any further offers. Both crew and management are painted into a corner. If management crack, they will be screwed for future pay negotiations.
If it comes to a strike, and assuming it's only about 30% of the crew that cause it (because of the percentage of the crew that are in the union, and then the percentage of them that actually vote), that would seriously effect flights - but it wouldn't ground them all. The company would certainly have better resources to battle through than a JNR losing £55 a day, or an FSM at £89. Are you really prepared for a fight? It will be a bloody battle if you really want to go through with it, and it'll only cause more polarisation between staff than a few comments on internet forums. You think, after the strike is over, you'll be able to flounce into the airport with a smile (assuming you've kept your head above water after all that time without pay), and the colleagues you'd been calling scabs will welcome you back with open arms? Get real. No-one is going to win in the event of a strike.