1) Can I copy elements from one Website(document) to another ? Such as a Button like Facebook navigation button?You can paste plain text and images into Xway. That allows you to paste text from a Freeway document. I don't think it's possible to paste images from Freeway into Xway (or into any other program, as far as I can see), but you can copy/paste images from a web browser, or you can reimport the original images.
2) Will I be able to use the site I build in the beta with the Retail version moving forward?Yes. Newer versions of Xway can open documents from older versions.
3) Can I add a blog hosted somewhere else? And is that a copy and past of referring code to the location of the blog?I think you could use an iframe to do this. Xway also allows you to add code directly, through markup items and other forms of markup - similar to Freeway, but with a few more options.
A good place to start is by working through the step-by-step tutorial (if you haven't done so already).