Andrew, you are correct in canceling the extension of stay (which is not a visa) before leaving. If is was simply a visa then the airport would probably be fine. You cancel at the same desk (thus same cue) for getting an extension so the line may still be long. However, once you are called, you be out really quick. You will have to leave that day by midnight or buy a 7 day "extension denied" stamp. Safe travels.
You can go to immigration and extend it by 30 days. You can do this once per entry. And as JD pointed out, you do not have a visa. You have a visa exempt entry.
As Mark said, either the "1" in "16" didn't stamp or the officer made an error. These things happen fairly often. I try to always check the stamp before I walk away from the counter. But a trip to the immigration office will get it fixed easily.
The OA visa does not require the poster to make border bounces every 90 days. Just the 90 day report. Thus an out bound ticket is not required. You friend was on an O visa that requires a border bounce every 90 days.