In answer to your questions:
1) There is no specific functionality for event registration built into the theme, this would require customization on your part to add something like this.
2) Yes, events are displayed on the map by default with a different colour flag.
3) Yes you can disable events from the Vantage admin dashboard, however as we do not officially support third party plugins we cannot guarantee that all other plugins will definitely be compatible with the theme. Thanks.