I'm not sure whether any new facts have emerged since the postponement of it all until today, but there's certainly precedents for the FIA not only slinging a constructor out of a championship, but also stopping them racing. Tyrrell in 84/85 were slung out over the "ballast" affair and as far as I can remember were not allowed to run at all for the last few races in 84 and throughout 85, and Toyota similarly in 95 and 96 in the WRC over the illegal turbos), but I don't remember if there were any large fines involved, beyond losing a share of gate/travel money etc. They were slung out for cheating, and depending on the evidence in this case, if that has been proven against McLaren, one way to look at it is that they are fortunate not to have been excluded from 2008 altogether.
MG Mark