One point to be aware of is that Xway does not currently have master pages, apart from the document master page (which represents the settings displayed in the Document Inspector). We introduced the idea of template (non-publishing) pages as a temporary workaround, but they're not really master pages. You can create new pages by duplicating a template page, but any changes that you make to the template page after you've done this will not affect the page that you created by duplicating it. We're planning to have actual master pages in the next version of Xway (it's something we're currently working on).
Character styles in Freeway are styles that are applied to spans (text runs) rather than paragraphs - so the equivalent in Xway is any style that is applied via the Span Inspector.
(The Span Inspector is displayed whenever you select some text, or whenever the insertion point is within an existing span.)
We are planning to look at named styles (both paragraph styles and character styles) at some point in the future.