OK just to clear everything up:
MOT - doesnt matter whether youve got a cat or not, but on post-91 cars, cats were standard and emissions regs tighter. If your car can still pass the emissions test without a cat then no worries. If it cant, either get a bent ticket or stick the cat back on for the test.
As I learnt from the oracle BenR many moons ago, popping etc will happen if the air/fuel ratio is wrong, either too rich OR too lean. Either way there will be unburnt fuel entering the exhaust. If the system is hot enough, it will pop. If there is a straight and easy enough path to the tailpipe and enough unburnt fuel, you will get flames.
The Magnex decat will not make the system any louder than it already is, at least thats my experience. Its a proper silencer. A straight through pipe will make the system louder because youre losing the cat and its silencing effect.
The lack of a cat makes absolutely no difference to the lambda sensor whatsoever. It still reads oxygen content in the gas flowing past it, just the same as always, and it is before the cat pipe anyway.
Back pressure will decrease slightly with a decat pipe, not enough to make any drastic chipping necessary, youll just have better exhaust flow out of the engine. Chipping will help to bring together a range of basic mods, eg. decat, freer flowing exhaust system, induction mods; but its not necessary just for a decat job.