If $ \mathfrak{A} \models (\exists x) \phi $, does it mean that $ \mathfrak{A} \models \phi[x / t] $ for some term $ t $?
$ \mathfrak{A} \models (\exists x) \phi $. It means that there exists $a \in A$ that $(\mathfrak{A}, s[x|a]) \models \phi$ So, the answer for problem is: Generally not, it depends. If the term $t$ is such closed formula that $[t]_{\mathfrak{A}} = a$ the $\mathfrak{A} \models \phi[x/t] $ is satisfied. Otherwise, not.
I think Mauro is answering a slightly different question than the one you're asking. There are examples of structures which "don't have enough terms" (structures and theories which do have enough terms are said to have the witness property or existence property). For example, any structure in a language which only has relation symbols! There are no terms at all in such a language (besides free variables), but of course we have plenty of true existential sentences - e.g. "$\exists x(x=x)$."
Mauro's point is that any structure $\mathfrak{A}$ has a canonical expansion $\mathfrak{A}_{+}$ where we add a new constant symbol for each element of the domain, and this expansion does indeed have the witness property. And it is frequently useful, in trying to understand $\mathfrak{A}$, to study $\mathfrak{A}_+$. However, the two are indeed different structures, and the general answer to you question is: no, the witness property does not always hold.