Q. Does the cover art show for all imported content of BD's at all times (inc. information... director, actor, etc..) but once a movie is selected a pop-up message appears to instruct you to put the original BD-dvd into the M500 tray (which is mounted in a rack in another room)?
Yes. Imported Bluray content will show up in all views regardless of whether the disc is in the tray or not.
Q. Can BD home made movies be placed on the server?
Q. Will my BD home made discs be required in the M500 tray?
You cannot import homemade BD content.