(1) Once a Yubico OTP is validated, all previously generated OTPs are invalidated. You can test this out by sending a bunch of OTPs to Notepad or something similar, then go to demo.yubico.com and test a new OTP, then paste previously generated one and see that it fails on the test site.
(2) Slot 1 - tap the button. Slot 2 - tap and hold the button for ~ 3 seconds (hold it until something is sent) - if we're talking the YubiKey NEO on Android over NFC, only one of the slots can be used since the device doesn't receive enough power to use button press.
(3) There is no factory reset option. The Yubico OTP credential can be wiped from slot 1 and a new one can be generated and uploaded (
https://www.yubico.com/products/service ... ey-upload/), but the original credential cannot be recovered.
The Yubico-generated and customer-generated Yubico OTP credentials are virtually identical - the only difference being that Salesforce requires the Yubico-generated credential. Any other services that I'm aware of will also accept customer-generated Yubico OTP credentials.