Well, not entirely. Reverting the CW restores the rep, subject to daily rep limit. The answer's been given 3 separate bounties (100, 100,50) which are not affected by CW.
2) I'm certainly not an expert on how SE distributes its points, but the moderator comment in the related meta post (http://meta.programmers.stackexchange.com/questions/3527/rem...) states "I don't think there is a way to refund the reputation the answer gained while it was CW [...]"