"I wouldn't be surprised if such feedback loops have been excluded from the models of climate change because they paint a picture so dire that no amount of mitigation (if there were any serious attempts at mitigation going on) could save our way of life."

If such feedback loops could be that dire and unavoidable, then they would already have happened direly and unavoidably. It has been this warm before, in the not-that-distant past by geological standards. If there's anything unusual about our current situation, it's the rate, not our current location. That does not mean that bad things or things we won't like can't happen, but we can't be sitting on a metaphorical bomb, or it would already have long since gone off.