It all depends for whom... Schools are inherently conservative, and slow down the evolution, as did the paper medium for written communications (and iPhone auto-correct).

But now, forget Facebook, think SMS and IM. In 50 years, everyone under 75 will be familiar with its vocabulary, and will have used more for personal communication than the "correct" language. I predict that, school be damned, it will replace the current spelling in everyday life for most people.

Note that I love beautiful language and its historical roots. At the gut level, I find it painful to watch it being torn down. But I'm too young to be a curmudgeon...