So MMA has a fairly high autoignition temperature - it's >815F (gasoline is like 475F).
It also has a fairly small explosive concentration range (2-12%).
(the inhibitors it gets mixed with are about the same autoignition temperature, but have higher flashpoints).
In any case:
1. The pinhole issue can be resolved pretty easily by making a big hole instead of a small one :)
2. MMA is normally stored at ~0psi. The increasing pressure here is from runaway polymerization boiling the liquid (the runaway comes from the polymerization being strongly exothermic). These tanks are not built to handle very much pressure, usually a few psi max. I doubt whatever the tank pressure is currently qualifies as the kind of high pressure you are talking about.
3. There is apparently a significant crack now that is relieving most of the pressure. Which is preventing it from bursting. Assuming the crack didn't exist before this all occurred (so far the prevailing theory is it did not, but who knows how it will turn out), it almost certainly started as a pinhole that propagated, so if it was going to ignite the way you said, it would have happened already. My guess - even if what you say is 100% correct, the pressure is never high enough to cause issues, even with pinholes.