1. Can you make a while and do while scripts and if yes, how?
No loops. Sell me on a loop (real-world scenario) and I'll consider it.
2. Can we use Boolean type variables and if so, how?
There are no bools -- all conditions must use an expression (a = b); you could make your own bools with 0 and not 0 though.
3. How do we make it add text to a page?
$PAGETEXT := $PAGETEXT + "<br><br>I've been added to the page"
But note that this will be useless in a link script cause the destination will change (unless you set it to @NONE) and the page will be wiped out.
4. Can we use scripting to manipulate the words of a link?
$LINKTEXTn := "Hi Mom" #where n is the number of the link on the page, starting at 1
5. Can we add a promp and/or alert box and if so, how?
No. Text Inputs will allow you to do this, but those will come later.