1. Fixed. (<?php the_content(); ?> needed to be replaced with <?php the_content('',FALSE,''); ?>)
2. Fixed. (<?php the_excerpt(); ?> needed to be replaced with <?php the_content('',FALSE,''); ?>)
3. Fixed.
4. It shows "No Response" because the admin needs to approve your comment before it can be viewable.

Yes, it is compatible with Wordpress 3.4.2
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PMing you about the modifications.

Thanks for pointing out the mistakes