well that is the risk of joining a private server that everyone should have known..
the risk of losing it is nearly 100% one way or the other.
if blizzard takes down the server or if the server just stops, you have the risk of losing the toon.
regarding the code, it has been improved soo much that it would do the private server community soo much good if blizzard will never release a legacy wow server.
but since Nost will not release it now, the chance that it will be released in the future is also near zero.
even if Blizzard decides with the new "ambassadors" to not release a vanilla server it will not be released i'm quite sure of that.
the why and how has been explained also in the announcement so I can understand it completely.
there are bastards out there that won't allow a partial release, so they are ready to go to court or something to get the full release.
Some voices in the emulation scene wanted to legally force us to release the complete source code if we chose to only publish a part of it. As explained above, the anticheat is not something we would reveal in any case.
all in all it feels like vanilla players are the losers in this story.
I hope i'm wrong in all this..