For your side questions. I ran a quick test where a file would be created at the start and the stop of the VI. The initialization will only get called when the screen that contains the control is opened. The VI/control continues to run until the Workspace is stopped. That is, the VI/doesn't stop when screens are switched.
Thanks Joshua for the helpful response.
Can the VeriStand Workspace screens be re-arranged into a desired order? I could not find any facilities within the Workspace to do that.