1) That's right, no highlighting in non-Kobo ebooks. It's because Kobo epubs are different than the standard, thus they need to specially code for both formats - and regular epubs are therefore always behind in features.
2) Not experienced by me, sorry, so can't comment.
3) Some ebooks (especially Kobo ones) split the book into individual files for each chapter, so they have to be loaded individually. It's very annoying.
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