Cyber Bullying - to scary for words!

I read this disturbing article in the New York Times on cyber bullying.  It's a whole new way to get back at someone that has staying power.  It's very scary.
What should parents and schools do?  Cellphones are here to stay so how can we insure that they're being used correctly?  How can we, as adults, guide teens on acceptable behavior when they text?
Any ideas?