I am not sure about this. I see no power recovery mode, but if memory serves me, the times I have removed power from the switch it defaulted to on… I will see if I can find more info or test, and someone may chime in before I do find it. But if default to on or last status, power would resume.
EDIT: The switch returns to the setting it was at after power loss per the product page, image below is linked to the reference.
No, Single press will only work as a Classic ON/OFF or Smart Control with the Wyze Bulb. You would essentially be removing all power from the Floodlight.
You could use Double/Triple press on the Switch to turn the Floodlight on and off with Rules. **Keep in mind since you are triggering the Floodlight from a different action the floodlight will not follow the motion or PIR clear trigger to turn the Floodlight off.