A:AnswerYes, you can center the TV even when the studs are off center. The way the TV hooks onto the mounting plate allows you to move it about 10 inches either direction.
A:AnswerThey release a latch on the back of your TV that allows you to take the TV down off the mount. They have a magnet on the tip that you stick to the mount so they will be hidden during normal use.
A:AnswerYes, that is exactly how we use it. We have it tilted towards our kitchen and then can move it back to center for the couch. Very flexible is why we like it.
A:AnswerYes. There is plenty of horizontal adjustment to allow the unit to be centered even when the studs are offset. I have two of these and with both installations the studs were way off center. Both look great and exactly centered where I wanted them.
A:AnswerNo - no vertical movement. It can swivel quite a bit, tilt down a little, and if you don't mind it away from the wall it can be moved horizontally too. I assume you are referring to "everyday" movement after the installation is complete. If you're talking about not needing to re-drill holes in your wall because you were almost done and realized the TV is 1/2 inch too low and will hit something, there ARE a couple of inches of vertical movement you can play with on the mounting bracket.
Tip: make sure you have enough slack before you wire tie and / or hide the cables. If you don't you will not have the full range movement the mount is capable of.