Nobody knows. We don't even know what space is, so we can't even guess what it would mean for space to be damaged.
Energy distorts space. The original theoretical model requires negative energy, which probably doesn't exist, and it requires an astronomical amount of it. Transporting a few atoms to the nearest star would have required the mass of Jupiter.
This model reduces the energy requirements down to something that's challenging but not impossible. It's cool, but it's not what they want to test now. What they're trying to figure out is if they can use the Casimir effect to generate a region of spacetime with lower than vacuum energy - locally negative, in a sense - to see if they can actually distort spacetime in the way they want. If they can do it, at least we'll know that faster-than-light travel is possible.
In a thousand years. When we can actually build one of these at a macroscopic scale.
Nobody knows what to build yet. If they did, they certainly would. Practical, efficient faster-than-light travel has unlimited economic potential.