Is 1bit alpha from 1:5:5:5 DDS also ignored? (if this format is supported, I mean).
That format is supported, and the alpha bit is used. Technically that format is the same as PCX when used by the game. Once an 8-bit PCX is loaded it's converted to 1:5:5:5 format, with all green pixels converted to alpha bits. Obviously the benefit with 1:5:5:5 DDS over PCX is that you get to use green (it doesn't get converted to alpha since you have the option of alpha initially) and you get the full 64k colors rather than just 256.
The DDS code supports the following formats btw:
1:5:5:5 -- 16-bit, 1-bit alpha, BGR format
8:8:8 -- 24-bit, no alpha, BGR format
8:8:8:8 -- 32-bit, 8-bit alpha, BGR format
DXT1c/a -- 24-bit, alpha ignored, DXT1 compressed format
DXT3 -- 32-bit, 4-bit alpha, DXT3 compressed format
DXT5 -- 32-bit, 8-bit alpha, DXT5 compressed format
I am looking to add support in 3.7 for the following additional formats (loading them is easy, using them is where the work comes in):
4:4:4:4 -- 16-bit, 4-bit alpha
3Dc -- 3Dc compressed normal maps
DXT5nm -- DXT5 compressed normal maps (not as good as 3Dc though)
fp16/32 -- 16 and 32 bit floating point formats
The 8-bit paletted formats will load, but can't be used properly by the game. I started code for that, but never completed it since I considered it a personal waste of time.

Also, note that I used "BGR" rather than "RGB" there. The game uses BGR pixel order since it's a native format for graphics cards and therefore is a bit faster. If you create an image that has it's color obviously wrong when seen in-game, then make sure that aren't using a R->B switch, or if you aren't using it, turn it on for that image.