the downvotes will likely not be weighted. flagged comments will likely have +3 karma as much as they have -3 karma. at least, that's the hope of a 1-week moratorium, right?
To answer your question, the only thing stopping the abusive meta-moderation activity are the two mods here. So long as the posts otherwise meet the posting guidelines, they'll likely remain unmoderated. If they're not flagged, they might not even pop up on the moderator's radar.
Basically, it is up to you to point the mods at things that may or may not be abusive. Which I guess answers your question.