Light and Darkness dragon is better pretty much no matter what. Unless you're running Crystal Beasts.
Light and Darkness Dragon will be switched into defense position. There is otherwise no interaction.
Storm Of Ragnorark
in the darkness
a good strategy for light and darkness dragon is to include counter traps, because its effect cannot negate them. you could also try a beat down strategy where you negate your opponents card effects with light and darkness and attack for win.
In theory, yes. Light and Darkness Dragon's negation effect does not target, it could potentially be chained to Blue-Eyes Shining Dragon's Quick Effect. However becase Light and Darkness Dragon's effect is mandatory, in practice it will actually chain to the initial targeting effect, the one Blue-Eyes Shining Dragon was going to use its effect against.
yes
In darkness there is always light means that even if things get worse and worse they will get better
Light and Darkness Dragon's first line of text says that it cannot be special summoned. Therefore when it is destroyed and its last effect triggers, it cannot choose itself.
Light and Darkness Dragon's effect can only be used once in any one chain. So if Enemy Controller was activated, Light and Darkness Dragon will automatically chain to this. If Book of Moon was added at Chain Link 3, then Light and Darkness Dragon can do nothing against it. Book of Moon will resolve, flipping LaDD face-down. Light and Darkness Dragon's effect can only resolve properly if on resolution it can lose 500 ATK and DEF, so its effect will fail to resolve if it has left the field or is face down. So Enemy Controller will resolve too (assume it targeted another monster).
No, Light and Darkness Dragon's negation effect is a Quick Effect which is spell speed 2, so it cannot chain to a Counter Trap which is spell speed 3.
Yes, Battle Fader's effect is a trigger, activated in hand when an opponent's monster declares an attack. Light and Darkness Dragon will chain to and negate this, meaning Battle Fader is not summoned and the battle phase does not end. Note that Light and Darkness Dragon does not destroy the cards it negates, so Battle Fader will remain in hand. It can be activated again when the next attack is declared.
You can't. It says in its text "This card can not be special summoned."