Liquids Roms:-)

Yes you can install it over stock rooted froyo. Just bootstrap into recovery and wipe data and cache, mount system, and then flash the ROM. Once you have it flashed do not use bootstrap to get into recovery, it will cause problems and may need to SBF again. You can use the reboot option on the power menu to get into recovery, or the reboot recovery option in ROM Manager.
Its seperate. Not a necessary app. Merely another way to get to recovery. I just use the power menu option.
You would have to download it from the market after you sign into your account.
Its actually called "ROM Manager." Like I said though its not a necessary app, most of the things you can do with it can actually be done in Liquid Settings.
want to know is there any costum theme for this rom ?

Cm7 theme chooser themes...However there is liquid blueberry as well..check liquids site! Nice...

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Hey...can i use another languange in languange n keyboard setting (indonesian) in liquid? Tq

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Still no ETA. When I talked to liquid a couple days ago he said everything was coming along well. With the formation of a team, the restructuring of how the building is done, and the ROM getting a makeover it is taking a little while to get the update out.