It seems to have been confirmed a few weeks ago that so long as the migration doesn't occur before the 7 days is up, there is no problem.
The requirement is to give 7 days notice of leaving. As your notice is deemed by O2 to start with the issue of the MAC you'll be safe in a couple of days. I believe anyway you get a choice of date during online signup, so you should be able to sort it out with that.
Though you can be pretty sure it will be later than the date you choose. Lots of people have got annoyed about that. I've never heard of it being earlier.
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"Where talent is a dwarf, self-esteem is a giant." - Jean-Antoine Petit-Senn.
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Allergy information: This post was manufactured in an environment where nuts are present. It may include traces of understatement, litotes and humour.