Are the unset's allowed? And if not, why aren't they noticed on the banlist?
they are not allowed as they are basically not tournament legal:
http://www.highlandermagic.info/index.php?id=bannedlist:
Card Pool.
Essentially all printed, tournament legal Magic cards produced by Wizards of the Coast can be used in deck construction. The following exceptions and rules must be adhered to:
•Cards listed in the Highlander banned list are not permitted in the deck. The banned list is based roughly between the power levels of DCI "eternal" formats Vintage and Legacy (previously known as Type 1 and Type 1.5 respectively), with Highlander specific changes.