First of all can I say I dislike this pension "holida" thing as much as any of you, but...
As you say it is entirely legal and entirely within the rights of the company AS LONG AS THEY LIVE UP TO THEIR RESPONSIBILITIES!
Also, the people who will decide if the scheme is at risk and what should be done about it are the scheme Trustees. Personally I believe we should all have a little more faith in these people as their whole reason for working is to ensure the scheme is in a healthy state for all of us. Their own jobs, pensions and reputations are on the line.
It went unnoticed in all the hoo-ha... but the unions did negotiate with management at the time of agreeing the holiday that more regular valuations of the scheme would take place and, if a valuation showed a marked decrease in the surplus to a level that concerned the trustees, the employer contributions would have to recommence. I believe the valuations are now ever 6 months... but don't quote me on that!!
Perhaps I'm a little less edgy on this than some as my pension gathering days are rather far over the horizon still... but I think we're as safe as any contributor can be in this day and age.
And any of you that like to dabble on the FTSE will know that what goes up must come down... and vice versa!!