Do people whose number I block get any type of message or anything telling them they are blocked if they try to text or call me?
actually no, but everytime that they try to call your number, they will not be able to reach you at all. it would be like invalid number for them.
As a test, I entered my home landline into the Rejection List and made a test call. My call did not ring my Samsung Galaxy S4, but it caused an icon to appear on the top status bar.
My call was answered by VZW's voicemail system. I left a short test message which did generate audible and visual alerts on the phone.