Hmm, it sounds like you're looking for a whitelist app rather than a blacklist - meaning no calls are allowed except for those specified by you. I know there are apps that claim to perform that function, but I've never tried any of them.
I also don't think they've been created with the intention of allowing a third-party to lockdown the phone - generally, you're trying to block telemarketers/ex-girlfriends/etc yourself. So you presumably also need a way to password protect the app, so the phone owner can't just change the block settings... or just uninstall the app, for that matter. Don't know if that throws a wrench in things...
Anyway, just poking around the market and the web I found Firewall Call Blocker, MM Blacklist and Call Control, all of which claim to have a whitelist function.
You might want to call Verizon or whoever and see what they have to say, I'm sure you're not the first person to request this kind of thing.
-HD