It is nothrop they are suing as they are the manufacturer of the system which malfunctioned. So it will be enforcable in the US although they are trying to move it here as we don't have psychological damages here anywhere near the magnitude of the US.
Correct. Most lawsuits in the US focus on the element of 'pschological trauma' etc and that is where the punter picks up the majority of their payout. The punter will also have his/her partner make a claim (even if they were not involved directly with the incident) for additional pain and sufferring, scared of aircraft sounds, nightmares about A330's, no longer being able to throw the leg over etc etc....
Australian law doesn't compare with the US in this regard hence the parties involved, ie the aicraft manufacturer and component manufacturer will certainly push for an Australian determination based upon the location of the incident.