Yes. DrLava's flexdrive will provide an normal red or blu-ray diode exactly the voltage that the laser diode needs at the current you have selected to drive it. As a buck / boost circuit, the input voltage will be unimportant as long as it is within the operating parameters of at least 2.5v and no more than 5.5v. http://www.laserpointerforums.com/forums/YaBB.pl?num=1209418066/0#0
No. I use the same driver in my laser. I can use RCR2 (3.6v) and CR2 (3.0V) interchangably with no issues. The driver accepts 2.5-5.5 volt inputs and drives a red or blue diode.
Read the manual on the website. Its an all in one package. Just add a 2.5-5 Volt power source, hook up the diode, and your good to go. the included voltage drop diode can be used for 6V power supplies