They are not eating the wood, just using the fibres to make nests. If it is coated you should not have any issues as the wasps like the weathered stuff.
I have seen the plinth seals that wrap around the bottom edge. They are friction fit and could be replaced. They are probably a better solution as you don't have to rout a groove.
With the over fascia vents the airflow comes up from underneath. The plastic eaves membrane support trays are better than bitumen but either should be fine.
There is sometimes quite a lead time on wind posts. How many have been specified? Somewhere along the line you will need structural drawings and calcs that comply with part A. You can normally bolt the windposts to the slab or concrete them in. They add a surprising amount of strength and stiffness to a wall.
The alternative could be some brick reinforcing - like train track in the mortar beds - but I don't know if it will work for your design.
It is not bad, just very unpleasant to breathe in, stings in cuts and eyes, dusty. Much more volume than cement. It does make the mortar nice and creamy and workable though. I wouldn't cut the bag in half.