I have no idea if it will work. My understanding is that it is essentially two cards in one. The older 9.3 Catalyst drivers that CRT_EmuDriver is based on supposedly support that card, but you'll probably have to give it try to make sure.
Yes, you need to use a DVI to VGA converter dongle.
Typically, only one port will work correctly with CRT_EmuDriver. It's usually (but not always) the "bottom" port on the card (the one that is closest to the motherboard).