I enjoy hearing about people finding new ways to use the plugin. When it comes to formatting the text, this is a matter of editing your theme stylesheet to get it to display the way to want...there's no settings in the plugin to change that.
It's not possible to edit the record in the list table, you do have to do it one record at a time. I know it's inefficient to do for a lot of records!
I like your "next record" idea...I will give that some thought.