ArduinoBT UART Communications
In answer to your first question, looking at the schematic for the ArduinoBT (available here), there is a connector called J1 that has the UART connections on Pins 1 &amp; 2.  You could make a connector that links these two pins up to a monitor cable (something like one of  these with level shifting if you're using a PC to monitor and aren't using a USB TTL UART cable).

If you use the full duplex one, you can use Docklight to monitor both ports at the same time*; with the half duplex one any serial terminal software will work.

If you want to monitor the reset line (pin 11 of J1), you'll have to use an correctly triggered oscilloscope probably.

* Note that if you use USB serial leads like the ones FTDI manufacture, the UART communication is buffered, so you can't tell in what order the data arrives with a full duplex monitor cable.