Yes, if they say so, definitely do it. Go to your Control Panel, and change "View by" from "Category" to "Small Icons". Then you'll see Color Management in the list.
Well, no, it's just not ideal to be working with a grayscale file. Better to have an RGB file if possible. But it's not the end of the world.
Is that one also grayscale mode?
I'm sorry if my Spyder instructions gave you the impression that you should only try numbered presets. I definitely think you should try all the presets.
It's very weird, because your Quick Mask button is presses, but the title bar doesn't say you're in QM mode.
That must have something to do with it, though.