1)
What will be the consequence of being erased from "Sefer ha'Chayim"?
1.
Radak: They will not be written in it; it is life in the world to come.
2)
Is there a difference between "Sefer ha'Chayim" and "Tzadikim"?
1.
Radak: No; the matter is repeated in different words.
2.
Malbim: Yes. Being written with Tzadikim refers to seeking to justify their deeds, that they are Hashem's Sheluchim.