Could I fail to pitch or sell the script, just because if the action is not double spaced, and it's 117 pages? Not only would I have to edit down on dialogue but I would also have to make the action take up more space and keep it under 110 still if that's the least riskiest limit.
To "whom" are you going to sell or pitch this script?
You're shooting this yourself.
Since it's for yourself you can use crayon if you want.
Industry standard spec formatting only applies if you want professionals, producers and investors to not politely say "No thank you".
If you're writing to sell, then:
http://www.indietalk.com/showthread.php?p=182344#post182344
http://www.indietalk.com/showthread.php?p=179730#post179730
http://www.indietalk.com/showthread.php?p=186753#post186753
There's some good format resources on that second link.
My fave:
http://www.scribd.com/doc/12721428/Professional-Screenplay-Formatting-Guide
There's some good poop on that one.
Double spaced action? WTH izzat?
Don't really worry about the page count. The story is going to be rewritten fifty-eight bazillion times.
ShortNsweet: think of it this way - theater owner (as if!) can show a 90min show more times a day than a 120min show = more revenue/day.
Cultivate that pragmatic mentality.
Don't use four actors when three will do the job.
Don't crash two cars when you can crash only one and have the other drive off the road.
Locations require cast, crew and equipment to be transported, set up then broken back down. How many principle locations does the story
NEEEEED?
Yeah, your screenplay has gotta "look" pretty to get people to read it.
There actually are professional readers.
Day in and day out all they do is TRY to read the sh!t crackheads scribble down.
It sucks up too much brainpower to interpret pre-Colombian Portuguese into English, so don't pi!ss 'em off due to plain laziness.
Learn industry standard spec screenplay format.
Tell your story.
Make it clean and tight.
Put a fork init. It's done!