You can use it for lower temperatures. (< 300°F). You can realistically go up to 400°s but I think it starts to do odd things when above 300°F (it's been awhile since Ive used it so take that with a grain of salt).
It's used in a lot of smoking/roasting applications to keep the moisture in. Just don't let it touch the element and you should be fine.
No problem. Yeah, if your doing something like brisket, you can smoke it for the first half to get a good bark on it. And then wrap it in butcher paper to trap the moisture in for the second half. It's to help prevent stalling.
I recently got "food wrapping paper" for bundling up sandwiches, it is still coated but has just enough stickiness left for tape to hold it shut.
Previously I was using parchment paper and if you wanted to hold it shut you needed to use a rubber band or run the tape all the way around to stick back to itself.