Yes. Works great. I have used it with many old and new Nikon lenses with my GH5 camera. This adapter and my Nikon 10.5mm fisheye is one of my favorite combos. 

No the other way this is to be able to mount the Nikon lenses onto the micro 4/3 camera body 

I don't think you need any. There is no glass. 

No. It has clicks in it. I only use this with Nikkor AI-S manual lenses, which are naturally clicked. However, if I remove the lens and just twist the ring on the adapter, it has regular clicks in it, finer than the one stop clicks on the Nikkor lenses I use. I bought my adapter in late Nov-early Dec 2016 

yes! It can 

 

The adapter will mount the lens and you will be able to use it manually. However, my copy of the adapter does not allow the lens to be fully mounted all the way until it clicks into place. It doesn't quite make it, but it's still very solidly mounted. Also, the manual aperture linkage doesn't work properly (on my copy, at least) so exposure is controlled only by shutter speed and/or ISO. You will be able to manually focus and zoom the lens but no VR, of course. It will be a frustrating experience. Instead, get a 14-140 Panasonic zoom if you can afford it!