I have no scientific proof, but I'm quite certain that the flutter is caused by the turbo's compressor wheel surging and stalling. This surge and stall does not really harm the turbo because its compressor wheel is so tiny and because it is running such low boost pressure. All turbos make this sound to some small extent (you just can't always hear it), but a perfect BOV can eliminate the compressor surge and stall effect. On high boost engines (which the MSP most certainly is not) the compressor stall can damage the compressor wheel due to its increased inertia and can even unwind the compressor wheel from its shaft - which is why most "racing" competition turbos use a left-hand threaded shaft.
Try blowing into a fan and you'll get a similar sound. Air is hitting the turbo's compressor blades in the wrong direction.