Hi Ron,
First question, very good one, after version 8.2 there are some features that required reload, some others not, however, cisco did a great document for updating the license on failover pairs, with or without need to reload, please see:
http://www.cisco.com/en/US/docs/security/asa/asa82/license/license82.html#wp195282
The second question, it depends on the version that you are running, if running version 8.3 or higher, you dont, if running version 8.2, you will need to have a license for the standby unit as well.
If planning to move to the version 8.3 to avoid purchase of the other license, i strongly recommend you to read the release notes as the hardware requirements change a bit and the NAT configuration also changes.
For the third and last question, IT SHOULD run from the moment that you install the license only, not for the time of the purchase.
Hope this is helpful for you.
Mike.
Mike