Paid version allows access to more device configuration settings and provides Alarm/Alert functionality, though depending on your network setup getting alerts can be very hit or miss, lots of threads on the forum about that..
It doesnt for me, but I'm running NVR's with PoE built in.. I kinda doubt it. Its not intended to be a full featured management app...
I bought it for the Alarm/Alert functionality, which seems to not work as much as it does...Like I said, I'm running a PoE NVR so direct connecting to IP cameras may enable more direct camera features but I can't say..