I figured it out.

1. To remove the monovalve, do I need to clamp off the hoses or will fluid loss be minimal?

*** Disconnected the wired connector. Loosened the hose clamps. Disconnected the hoses. With cold engine, I had no loss of coolant.

2. How do I remove the pointy rubber connectors that hold the entire monovalve component in place? (Pull, stretch, twist, snap... ??? I don't want to break them off.)

*** The rubber "pins" slid outward from the bottom u-shaped bracket, releasing the entire monovalve component. After removing from the car, I forced the rubber pins out of the unit by pulling the pins from underneath while using my thumbnail to force the rubber lip through the hole. Used a pair of channel locks to pull the rubber pins up through the holes in the new monovalve.

Techie9