Hi amin,
1) Yes. Please deactivate the license on the old domain first, then activate it on the new domain with the same purchase code.
– Old domain: Dashboard -> WoodMart -> Theme License -> Deactivate
– New domain: Dashboard -> WoodMart -> Theme License -> enter your purchase code -> Activate
You can also manage/removing old activations in your XTemos account if needed: xtemos.com/my-account
2) No. Deactivating the license does not reset or remove your theme settings. WoodMart options and other settings are stored in your site database and remain intact.
Kind Regards