One should insert CF cards into the slots only when the adapter card is ejected because the interface to CF cards is ATA and ATA can only instantiate itself to the system when the adapter card is inserted. You can unmount and then remove CF cards when the adapter is inserted, but you can't plug in new ones unless you first power off and eject the adapter card.
Yes, the Pro Dual CompactFlash Adapter supports UDMA 7 CompactFlash cards in UDMA 6 mode.
Background: CompactFlash Revision 6.0 (November 2010) added UltraDMA Mode 7 (167 MB/s), which is up to 20% faster than UDMA 6 (133MB/sec). All UDMA 7 CompactFlash cards are compatible with UDMA 6 cameras and readers.