Hi incite,
1. You could mount it in different ways/directions. It depends on your case but you can follow the direction recommendation in the manual. =)
2. The common way is to blow the air through fins. If you flip it, the performance should go down pretty bad, I wouldn't do that. The fan is attached when you get the heatsink, so just mount the Cooler as it is =P
I'd say it is compatible, don't see any issues. There are only sometimes problems with capacitors but this is something we can not influence at this moment.
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