For most entertainment purposes, you generally want to adjust the colimation lens so that it is the best at a long throw. (There are several exceptions to this rule depending on personal preference/safety issues/fitting beams on galvo mirrors, etc.) As a general rule, you set up a bounce mirror to extend your throw as far as you can and adjust your beam. Note: In many cases you have to take off the thumb ring to sufficiently focus the beam as the thumb ring prevents you from getting the lens close enough to the diode. This varies based on specifics of your diode and the type of colimation lens you are using.
To keep your colimation lens in place, you can use thread lock (the light duty stuff) or plumber's adhesive tape. I use the later, generally wrapping two full turns of a 4mm length around the far end of the lens threads (so it goes in easy at first and then tightens up when you hit the tape). Pro-tip: Wrap the tape counterclockwise when looking at the exit end of the colimation lens. This keeps the tape from bunching up as you screw it in.
Regarding question #2, it depends on how the diode is mounted. If you are using pre-assembled cylindrical mounts that fit in the SK12 rail shaft supports, you simply loosen the bolt and rotate the cylindrical module. If you have the common brass mounts held in place with 4 small screws, you can either loosen the screws and gently rotate the diode. If you have something in there like heat-shrink-tubing that prevents the diode from rotating, you can remove the diode and back plate and manually turn the diode itself or if you simply need to rotate it 90degrees, rotate the back-plate 90 degrees and put it back together.
-David
"Help, help, I'm being repressed!"