It's great for page flips, turning the backlight on and off, opening the top menu. Sadly it doesn't work for turning power off and on, but I suspect that can be fixed.
Yes it can, but not in a way I'd ever want to do... it's very slow and halting. I would stick to using this remote primarily as a way to read books without needing hands on the device, for web browsing I suspect there are better options I'm unaware of.