1. I don't see Virtu in the downloads for that board, so I'm guessing not. I could easily be wrong about this, but I thought Intel only included Virtu with Z68 boards.
2. Not exactly - Virtu doesn't support connecting to both, only one or the other. But you can still use two monitors as you wish - just connect them both to the motherboard graphics, or both to the discrete card.
3. No, to use QuickSync with a discrete card requires Virtu.
There's some good info in the 2-page Virtu user guid here: http://downloadcenter.intel.com/Detail_Desc.aspx?agr=Y&DwnldID=19993&ProdId=3334&lang=eng&OSVersion=Windows%207%2C%2064-bit*&DownloadType=Software%20Applications