That sounds like it. Only thing I've heard about this is that they are running tubeless (one valve) and using an inflatable internal beadlock (the other valve).I thought they might be running one standard tube and then the other is a UST valve, so there effectively running a UST set up with some added protection against burping the tyre and losing air that way. Although neither really looks like a Mavic UST valve.
Probably not, every rim i've owned the valve has been oposite the seam, so the pin and weld probably compensate for the valve stem. I reckon those people who run no valve caps actually throw the balance of their wheel outI'm just guessing but is it an attempt to balance the wheel?