The slow count is on 1,2, the quick quick on 3,4.
Hip movement depends on body contact. You generally don't do both. The classical Bolero style is with body contact and no hip motion, and the more modern interpretation is spaced slightly apart with a blend of hip motion and rise & fall (with little or no foot rise). Some people, myself included, mix the two styles. You'll see examples of this in the upcoming Bolero clips later this year.
Foot turnout is the same as Rumba. I've heard people argue for and against it in Rumba. Some beleive that only the back foot turns out. I'm a proponent of turnout of both feet, but agree that the back foot does turn out more in many instances.
Bolero is one of the five core competitive American style Rhythm dances. In Int'l style, there are only 10 dances, and all of them are danced in the multi-dance events. In American style, there are dozens of dances, and pro-am students can dance any or all of them in competition as single dance events. But as for the multi-dance events, there are exactly nine dances: Smooth is Waltz, Tango, Foxtrot and Viennese, and Rhythm is Cha Cha, Rumba, Swing, Bolero and Mambo.
Regards,
Jonathan