Thanks for writing in our forums.
I will try to answer your questions:
1. MySQL for Excel might not help you automate your reporting, but it can certainly help you dump MySQL information on an Excel worksheet in an easier way and without writing any query. If you want to achieve automation, you will need to play with Excel macros and use MySQL Connector ODBC to establish connections to a MySQL DB and in the macro script do the automation you need.
2. If you install MySQL for Excel using the MySQL Installer (which is the most convenient method), the VSTO runtime prerequisite will be automatically installed if not already present. If you are running the stand-alone MSI then you should download the runtime from here: https://www.microsoft.com/en-us/download/details.aspx?id=44074
4. Setup is very straightforward, but I recommend you reading the MySQL for Excel documentation to get you started: http://dev.mysql.com/doc/mysql-for-excel/en/
Also it would be advisable if you read some blog posts that describe in detail the basic features of MySQL for Excel, you can search for them here: https://blogs.oracle.com/MySqlOnWindows/
MySQL on Windows Team