John, my first question is if you’ve ever turned them on and tested them in any other environment? There are several options to consider and can act very differently depending on how you set it up. To answer your questions:
1. If you turn off single entry mode, then the time entered into the timesheet will not be submitted to the project
2. Timesheet records are kept until you delete them. There isn’t an auto-archive/retention period for anything in Project.
Hope that helps. Good luck…Larry