No! however, you could probably go the other way. put lollipop on stock and then NC2 on slot 1-4. Since SS doesnt boot with the OC1 kernel and you need the OC1 kernel to boot lollipop you would be stuck.
If you put NC2 on slot 1-4, then you can boot to Stock slot with OC1 kernel and get to lollipop. If you wanted the NC2, just use the NC2 flasher, get to safestrap and activate the other slot and reboot. I would imagine that would work.
If you wanted to go back to lollipop, you would just reboot to SS, activate stock slot, flash OC1 kernel and good to go.
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a. When you download the file on android host, it gives you the download information:
download information
44 downloads
size
1.4GB
md5
dfdb007237269046b12d1b8b5f7f54cd
You can download a program (or app) that will check the md5 of the file you downloaded to make sure they match.
b. That depends. If you are on stock NC2, then you need to root, busybox, ss. Then you can get to SS and follow procedure from there.