Afraid not, the number of characters is determined by their feed settings, not yours. They do this to force you to visit their site in order to read the rest of the content.
For your second question, just type in what you want in addition to or instead of the {rss:fieldname} areas. You can even use BBCode in the Body Template the same way you would use it in a post. For instance, this is the default link code they give you and what it turns into when posted:
[url="http://{rss:link}"]More...[/url]
More...
But I changed mine to look like this:
[size=1]Source: [url="http://{rss:link}"]{rss:link}[/url][/size]
Source: http://www.feedsite.com/articleidXXXX