For some reason when I tried 5.0.70.24 I always got MMS Expiration Errors. However when I uninstalled it and went back to 5.0.31.16 I no longer got the errors. I am assuming you have the MMS server settings correct right?
Here are the server settings:
Server name: Verizonwireless
gateway is left blank
Port number 80
Server address:
http://mms.vtext.com/servlets/mms
Connect via: Verizon Wireless