I just recently purchased my first electric RC truck yesterday, and am really enjoying the switch from greasy and finicky nitro vehicles. The truck I purchased is a sweet E Revo VXL (1/6 scale), with almost 100% aluminum parts. Here is a pic:

Anyways, I am trying to understand the ins and outs of LiPo batteries and am finding it very confusing and don't want to ruin my battery. I purchased a used but fully charged 2cell 7.4v 1850MAH 35C+ LiPo battery, and an Orion Advantage IQ404 charger. I ran the car for a bit, however, the low voltage light never came on yet. So I have a few questions about what I now need to do with the battery and would GREATLY appreciate any help I can get!

1. Do I have to wait till the low voltage light comes on to charge the battery, or is it ok to charge it up when it may still have some juice in it?

2. I know that my charger has a balancer built in, but how often should I be balancing it?

3. My charger has different amp setting (I suppose amps, it says "A"), and I have no idea which I should set it at to charge this battery. The guy at the hobby shop mentioned to maybe set it at 1.5A, but he didn't seem super sure.

4. Does anyone know if the charger mentioned has a discharge function? I didn't see it mentioned in the very brief manual. And if it does have a discharge function, what exactly would I use it for?

Once again, I'd appreciate any input I can get. Thanks!