It has worked with previous pokemon games. The only thing is I think the pokemon keep their Japanese names when you transfer the save file to the English version.
Yes, you can just rename the save file to the U version. Just make your character's name in english or else it'll be in Japanese when you rename it when you switch roms.
It worked on most if not all (didn't played all of them in japanese), the pokemon names stay in japanese until they evolve (you can rename them to english using the name rater if you gone through all evolutions), if you name your character with japanese characters it won't be translated. Other than that just advantages ,i'll get to keep my event Mew and notched ear pichu. I too am eager to finally know what people are speaking to me.
