Good question about the date aperture and its effect on the protection afforded by the cage. I presume the same can be asked about the centre hole on the dial for the hands, and so on. I believe the effect is minimal. One the thickness of the ring, I believe it may also be used as a spacer between the movement and the outer case. As for the effect of electromagnetic waves on wristwatches, I had the experience of my quatrz watch running fast by an hour and a half while working near some bus-bars on an electrical switchboard. No long term effect was observed after the watch was removed from close proximity to the EM waves and the watch adjusted to the correct time. I am not sure what the effect might be if I were wearing a watch with a mechanical movement at that time.
Thanks to Kong for showing pictures of the sectioned case. Previously I could only imagine the case construction from reading the line drawings in the IWC catalogues.