It allows you to add mods that require ModLoader to your Minecraft
Yes, to install it you will need modloader, and modloaderMP
No.
not yet
Not yet you can't, an update for horses in Minecraft xbox has not been released yet by Mojang.
Not yet
Not yet
No
Minecraft 2 has not yet been released.
all it does is that it Justs load up mods so like a toy mod You have to have a ModloaredMp
Horses are not a mob yet in Minecraft, but they are available on Mo' Creatures.
Villagers aren't available on Minecraft P.E. yet.