Yes to both.

Transferred damage still retains all its special qualities. If it was Penetrating damage transferred, it still is penetrating. Other than that, yes any damage reducers will work for the fig it is transferred to.

What if it is being transferred to multiple figures? Would you get to use multiple reducers? One from each character that would be dealt damage.

Edit: never mind. Re-read the powers and answered my own question.

Thanks for the answers guys. I thought that it would work this way. Now pushing Warlock into his Impervious click doesn't look half bad