1. I don't know. Based on what I've seen Ford does not put in extra circuits if they are not part of the factory options, but since you have a Limited you may have the wiring. The Fold option could be added if your truck didn't come with it, maybe memory would be difficult.
2. Yes, I added a new circuit to the telescope switch. My write up talks about how I added the circuit.
They come set at stock height, i raised mine up a little because i saw the Full Race truck in person and theirs looked perfectly level. If i was to be towing a lot i would of left them at the height that they came from Fox because with the added load in the back it should sit perfect.