My mainboard recomends 1.5V modules.
How about if i get Mushkins CL7 but they are mostly 1.65V ?
Does it mean it would not be compatibile ?
It should work just fine. You begin to take a risk damaging your hardware when the component you install is of lesser voltage than the slot supports, thus taking a risk of overloading the component and blowing it. The fact that your RAM is just above the recommended voltage means it'll run at that max voltage (and I don't think it's large enough of a gap to effect the performance of the RAM, either).
Other thing is, my CPU has controller up to 1333
If i get 1600 how would that work ?
Yes, if you get 1600MHz RAM it'll run at a max 1333MHz. Imagine having two bottles connected to each other at the mouth. The bottle on the left can pour 1 gallon of water per minute, and the one on the right can take in .5 gallons per minute. With that being said, the maximum amount of water that can be poured in either direction is .5 gallons/minute (because the bottle on the right can only go at a max speed of .5 gallons/minute).
The same is with your RAM and motherboard. Your RAM offers a max speed of 1600MHz, but since the slot can only go at a speed of 1333MHz, that's the fastest speed at which it'll operate; but it will work.