2) don't understand at all... I understand one might want some coloration but flat is supposed to "true" and from there one would shape things to taste. Am I missing something big here?
Coloration is a nebulous term invented by recording guys to describe something they think they hear, usually in a negative context. i.e. that mic colors the instrument.
I never use this term unless I'm talking about Crayola's.
3) I don't think ANY EQ is a tool for increasing loudness. The approach I've heard described that makes sense to me is to mostly use an EQ to cut much more than to boost.
You ever see a DJ push up the EQ top and bottom? <g>
Shown here: parametric on i-pad, graphic EQ with smaart display on laptop. I don't remember which channel is being displayed. Might have been female VOX. This was a loud gospel show.