multiple SKUs for size and color

I’m brand new to Woo Commerce – used on one client site so far, loved it. Now I have to do a proposal for another client and the SKUs are a bit more detailed.

The client is a sign-maker – will need to have options for 3 different sign sizes, specific messaging on signs, (5 words included, extra charge of $10 per additional words), optional image, etc.

Is this do-able with the free plugin or will it need additional coding?

Also, she accepts credit card payments through World Pay (Paypal as well)- not sure how that works, is it compatible with any cc provider, and if so, easy to configure?

http://wordpress.org/plugins/woocommerce/