No it isn't. In the extreme case I cited, it's roughly 4 generations for the 5% minority to become the majority.
There is one MAJOR issue with this (sorry if it's already been addressed but only read the first page so far)...
What is to say all those born from muslims become/stay muslims themselves?
This is the big decider for this sort of thing, unless you are Hi..GODWIN!..r then it's perfectly reasonable to suggest that just because you are born of muslim parents it doesn't mean you will be a muslim. This is a pretty basic statement, just have a look around you, most of my asian/black/*insert ethnicity here* friends that were born in Britain from immigrant parents don't follow their parents religion (at least formally, they may refer to themselves as hindu/muslim/whatever but only in the same way most white british refer to themselves as christian). You have a situation in most cases where first generation "immigrants" are not religious, that doesn't bode well for the second and third generations...
So yeah, muslim birth rates may be higher than christain rates, however far from turning a western european nation into a majoriy muslim nation in a few dozen years it will just end up with a load of people of "muslim" descent, as British as you and I. They may however have darker skin than us!