You obviously haven't looked at many typhoon forecasts before. What it actually says it that there is a 70% chance that it will pass within a few hundred km of here. That's a long way from saying there will be a direct hit - no-one can predict that with any reliability more than a few hours ahead.
And even so, this looks like quite a small storm - a bit like a normal windy day on the south coast of England say.
But if the HKO can possibly hoist #8 they will because HKers seem to think that no year is complete without at least one typhoon-day off work.
And at Stormies, my understanding from this page:
http://www.igors.com/sub.php?s=news&catid=3&newsid=5
is that the shooters are free while the #8 signal is up.