1) No, since it is a NAS (Network Attached Storage) server, which practically means that it only delivers network storage space. It is already running a minimal operating system which makes the whole drive a network share. I don't know abuot the time capsule but SOME NAS servers are able to be hacked to run other operating systems.
2) I do not think you can make a perfect copy of your Mac's HDD to another Mac, the closest you would get would probably be to copy your documents and stuff from the Time Capsule to the other Mac.