It will recede on its own, but it can be very persistent and take a long time even if it is no longer growing. I personally prefer to mist it with some Excel to give it the final kick in the nuts! Just turn the filter off, and use a syringe to mist the CO2 over the affected areas. Leave the filter off for a further 15 minutes, then turn it back on again. The BBA should turn pink after a while, and then start to break down. Any shrimp you add will feast on it in short order. Don't exceed the recommend tank dose of Excel with the amount you mist over the BBA, and don't worry if that means its not enough to treat all areas on day one. Do one area one day, wait two days for the Excel to break down, and then treat the next area, and so on.
Its difficult to know for sure, you'll have to play it by ear - I would have thought 40-50% to start with and see how it goes.
No, definitely not. The lower light may slow growth, but you still want to ensure an excess of ferts, so don't mess with that so its a variable you don't have to think about for now.
You may need to experiment with filter inlet and outlet placement to maximise flow. Adding a stream pump or skimmer can help with deadspots.