I understand you being nervous about your 16 year old (my son is 17 but thankfully he does not have Big-D)... I don't think you need be too concerned especially as he is on the pump. The basal control should allow him to fast safely and it sounds like a good cause and I'm sure it is important to him... good on him for caring so much... I'm sure you are proud
I'd be interested to know how good is his control..? How long has he had a pump..? Has he already tested his basals by missing/delaying meals..?
Is the whole fast at school? Will it be supervised?
So long as he is willing to test extra frequently (especially over the night) and knows how to correct with food... I'd give him a hug (if he still let's you

) and send him on his way.