1. Can a duo attack one target with the first attack and a different opposing figure with the second?
2. Can a duo knock out an opposing figure with the first attack, and then ranged attack a different opposing character with their second attack?

I have the rulebook but it's unclear to me, and I've never used a duo before, kinda want to try out Cloak and Dagger soon.

yes and yes....

to the best of my knowledge

Yes to both.

And because I hear it come up a lot: the Duo ability is compatible with the same powers that HSS is (Super Strength and Steal Energy)

The new Powerman & Ironfist Duo has BCF so my question is... do you have to -1 from the damage (with a min of 1) from the second BCF attack. The rules state that the damage value is -1 for the second attack...but BCF replaces your damage value so I would think that the second BCF attack would be just like the first one....but the question has been brought up so I thought I would ask.
Now, if it said that damage delt is reduced by -1 then I would say yes BCF -1 for second attack but I double checked and it does not state it that way.

OK nevermind I just found out that You can't duo BCF. That bites.

BCF is incompatable with the Duo Attack ability. It requires a Close Combat Action to be activated (IE Charge, Flury or Exploit Weakness). Duo Attack requires a Power Action to use. It grants you two Close Combat Attacks, not Actions. This is different from Flury, which is in itself a Close Combat Action, and is therefore eligible for BCF.

Later