Uh, I read somewhere on one of these threads that o_e_l_e_o's account is locked. It can be verified with the BPIP extension though and that is what is stated on it.
Yes, the o_e_l_e_o account is currently banned.
When an account is locked it means you can't even log in to the account, kinda like Satoshi's account, so I don't think he will be able to read your message even if he is still around.
It all depends on how the account was blocked. If it was blocked by moderators, the user can log in to the account and view incoming messages. If the account was blocked using a secret question, for example, then yes, the user will not be able to log in to their account.