I think the costume is pretty good, but could be tweaked a bit. Maybe get rid of the shoulder bits, have that golden bracelet thing on both wrists for balance (though they'll probably explain why she has the one in the issue) and change the hair a bit cause right now it looks kind of boxy and weird like Tea from yu-gi-oh! I'll check out this series though.
Sort of, there's a lot of work arounds to that. One that he had no connection to the 10 rings from the first film who were meant to tie into the mandarin at some point. When Killian said he was the Mandarin it's more likely he meant figuratively, that he wrote and created the Mandarin that Slattery played and he caused all the attacks so HE in that way was the mandarin that people were afraid of. That how I took that. There's still a way that a more traditional mandarin could exist in the MCU and Killian used like a legend of him to influence his figure.
Disney's doing the same things with its video games too, for Star Wars and Marvel, they want to put all their IP's in one place. In fact yesterday I heard the announcement that Marvel's activision games are being taken down off of PSN and XBLA for that reason. It seems bad at first, but the older series aren't going to vanish off the face of the earth, there's still ways to get them, and you never know what will happen with this in the future.