I know these documents are intended to clear up ambiguous and incorrectly worded rules, but I have some questions anyway:

1) The FAQ uses an example for HSS Option 2 that makes four attacks. Is there any point to this since the damage value is modified by the Rule of Three, other than the hope of rolling a critical hit?

2) The FAQ and Errata make references to Wild Cards copying the team ability being copied by another Wild Card. When would this scenario happen? Wouldn't the second Wild Card just copy the team ability of the original character with that team ability?

3) In the answer to the question regarding making ranged attacks against adjacent opposing characters it states: "Characters with flying may always make ranged attacks" Does this only apply to adjacent opposing characters, otherwise it is contradicting the rulebook that states hovering fliers cannot make ranged attacks against non-adjacent opposing characters when adjacent to an opposing character.

4) It states that if the targets of Quake become illegal that the attack cannot be made. Does this cancel the action and the player may take another action with the character that used Quake?

I know these questions are kind of anal, but some of us can't help who we are I'm just trying to get a better understanding to the reasons behind the answers, not really the answers themselves.

Thanks in advance for any help.

That and you can try for knockback.

This is actually a throwback to when wildcards could retain team abilities after the character they were wildcarding from was KO'ed. Now since that is no longer legal you do not have to worry about it as much.

This just amended the old "fliers can shoot out of adjacency rule. They can no longer do that, but as long as they are targeting and adjacent character they can attack them with ranged attacks.

I have ruled this similar to if a player makes a Skrull team ability, Danger Girl, or shape change roll and have allowed them to choose another action, note that if they charged to do it they would be stuck with the move portion of that charge because the target became illegal after that portion of the action. Now this may be wrong, so if someone wiser than me is willing to correct me let me know because now that I typed it out I am second guessing myself...

No problem, I hope I helped! (And I hope I am right... *looks both ways and runs*)

Since the damage value is set to 1 at the beginning of the action, the damage value cannot be increased above 4 due to the rule of 3. This would require 4 rolls to hit.
It could for instance come into play when one Wild Card has Siphon Power - another Wild Card on the same team cannot copy the TA that is Siphoned.
Yes, it only applies to adjacent characters.
I assume the above entry is the one you are referring to? If so, it is quite clear what happens: If legal targets remains, the attack still happens. If no legal targets remain, the attack cannot be made. As for what happens if the attack cannot be made, it depends on what happened to make the targets illegal - if it is via Shape Change or Skrull/Danger Girl, the attacker must instead choose another action as specified. If it is via the Entangle Feat, the character cannot be given another action.