Most likely Adam and Sh-K-Boom are operating the myspace account jointly.
I work for an indy label and although the artists will log in occasionaly to post blogs and read/respond to select fan messages etc., it is up to us at the label (or actually the interns at the label) to make sure all friend requests are accepted quickly and 'thank you for being my friend' banners are posted to comment walls, as well as to ensure that tour dates and music selections are up to date.
However one thing we don't do, and have never done, is monitor comments, as there are simply too many. If something obscene is posted, it is usually a fan who will send us a message concerning it and then we will remove it.
I'd be highly surprised if Adam did indeed take over the page completely as myspace is a vital marketing tool for a label, and I can't see them giving up complete control of it. I instead would assume his record label gave him his log-in info and gave him a brief tutorial on how to post blogs and bulletins in an attempt to make the page a bit more personalized, as we encourage our artists to do the same thing.
"Take all of your so-called problems, better put them in quotations.." - JM