Yes, and yes.
It kind of resembles foxtailing, except the new growth doesn't HAVE to come from the top of a bud. It can come from the sides as well. In fact, I found, depending on the orientation of the bud you can manipulate where the new growth forms (likely due to auxins). New growth comes out of single calyxes on the bud, and depending on light distribution, can have a single new growth or many off of a single bud.
As for revegging a harvested plant, you need to leave some buds on there as that is where the new growrh will form. For this, you would harvest say 90-95% of the plant, leaving some popcorn nuts and leaves, then just put it back into veg and 2-3 weeks later you'll start to see growth. Generally, revegging in this manner isnt worth it though... in the time it takes to reveg a harvested plant, you could have started another one, and it will end up producing more in the same amount of time.
Its likely my reveg will end up with the same story... extended grow time with a harvest that doesn't reflect that. In the time it took me to reveg, I likely could have harvested, and started a second plant, and been at roughly the same point I am now. BUT I could also be wrong, as the size/shape/number of nodes this thing has is insane so well see.