I used the temperature method very effectively in my community tank with 6 clown loaches.
A couple of the smaller ones had white spot quite badly, so I searched around a bit and decided to use the temperature only method, since they are quite sensitive to meds.
Over the course of a couple of days I raised the temperature to 30deg, and made sure to add more agitation to keep the oxygen levels up, which seemed to work since my Gourami's and Betta didn't show any signs of stress.
It took probably a week for all the whitespot to disappear off the loaches (only the loaches had the whitespot) and then as advised in the article I found, I kept the temp at 30deg for 2 weeks after the last whitespot had gone to make sure they were all dead, and I haven't had any white spot since (this was about 3 months ago).
The raised temperature does indeed speed up the life cycle of the whitespot, but most importantly it stops the reproductive cycle, it doesn't kill them but they can't reproduce in temperatures over 29deg, so once they detach from the fish and fall to the bottom they can't reproduce so it stops the cycle, thats why it was recommended to keep the temp at 30deg for 2 weeks after the last one was spotted to make sure none are lurking anywhere waiting to reinfect the tank.