Ok, here's the info you asked for.
1. No, I can't drag the window around.
2. No, I can't dismiss the window.
3. Yes, the DEXplor splash screen does appear.
4. No, the splash screen never disappears.
5. Yes, the treelist fills up with files.
6. As to whether the treelist updates a second time, I don't believe so. The last couple of times I tried it, even the status clock is frozen.
7. As to the red Tap & Hold animation, yes this is new to PocketPC 2002. It appears where you tap.
Hope this helps.