That is the report to view your future orders just set the date range appropriately and only tick future.  As far as your first question goes I have never had that occur so I don't really have an answer for you. 

to answer your first question, if it pushes over the credit limit, it will go ON HOLD. also be aware that if you use the option to "auto commit" your items, and you don't have all available at the time, (and if you don't allow negative inventory) it will crash your day-end when it tries to activate the order.  We made an alert for all Future orders so that we manually activate them.

For the second question, you can do what Brandon has suggested or just use the search window and use the criteria selection to view all open future orders.  Just change the selection to "order type" and then click "future" and it will show you all open future orders.