No, not really. Very few things are actually emulated. Technically it is a "virtual" machine with custom device drivers.
 

No, MOL and Wine are quite different. Wine is an implementation of the Win32 API (that is, you do not need Windows to run Wine). MOL is a "virtual" machine. Theoretically, MOL allows you to boot any (PowerPC) OS within MOL (what is more or less specific to the OS is the boot-loader and a set of custom device drivers interfacing the "virtual" hardware of MOL). At the moment, MOL can run MacOS, MacOS X and Linux.
 

With the reservation that I have never tested VMWare, yes. MOL does not emulate hardware though (according to the rumors, VMWare does this (?)).
 

It does. MOL runs for instance on the Pegasos board, the Teron board and on AmigaOne hardware. In short, MOL should run on any PowerPC hardware (with the except of 601-based systems). However, the EULA of MacOS prohibits its usage on non-Apple hardware (it is of course perfectly legal to use MOL to boot a second Linux though).
 

No, MOL can only run on PowerPC hardware since no emulation is performed. However, adding a PowerPC emulator for x86 is under consideration.
 

You can. However, it might be necessary to press shift a couple of times (and then keep it down). Why? The first key press after/during the console switch might go to the X server and not to MOL. For the same reason, modifier keys sometimes get stuck after a console switch (the key up event is sent to the wrong VT). Pressing the key in question shold make it usable again.
 

You probably have it mounted under Linux. Use the mount command to see if your Mac partition(s) are mounted. Then umount them before starting mol.
 

Old X-servers (Xpmac and possibly others) only checks a for console switch requenst after an event has been received (i.e. ADB mouse movement or keypress). Thus, it might be necessary to press a key to make the switch actually happen.