question 1: Not without modification to the external drive if my memory recalls. You can boot some games such as Robocod (as an example.)
from an icon within WB though.
as for question no. 2: I run IK+ sucessfully on my A1200. (remember to switch graphicmode to original in the boot options.) Even got it installed on my HD1. The other games..well, Defender of the Crown I believe work but definitly not Bubble Bobble and Ports of Call. Giana Sisters I'm almost certain that it will work, never tried though.