The installation procedure consists of two steps:
* Preparing the camera (once per camera).
* Preparing each card (once per card).
Preparing the camera just activates a hidden flag: when that flag is active, each time the camera boots it will check for a BOOTDISK flag in the CF; if that flag is found, then the camera will look for an AUTOEXEC.BIN file in the card, and execute it. Preparing a card means activating the BOOTDISK flag and copying the AUTOEXEC.BIN file.
So, back to your questions:
* A prepared card remains perfectly usable for any purpose; files are saved on the same card where ML resided, and can read using any CF reader, as if nothing had ever happened.
* If you prepare the camera, and activate the BOOTDISK, but fail the copy the AUTOEXEC.BIN file, then the camera will refuse to boot; however, using a non-prepared CF (no BOOTDISK flag activated) on a prepared camera is perfectly fine.
* Camera switches off each time the card door is opened, so you need to prepare each card you want to use.
Hope this helps.