It would help if you filled in your profile so we could see what make of tractor you have.
However, even without that information I can answer your two questions based on the fact that 99.99% of all CUTs and SUB-CUTS are the same, hydraulic wise.
1. Yes you will need a valve with power beyond. The sleeve will be required depending on valve design. Most loader specific valves have been designed with power beyond capabilities permanently built in. If the one you are looking at was designed for applications with or without power beyond then the sleeve is necessary.
2. The valve MUST be open center since your hydraulic always pumps when the engine is running.