Nearly - you're simply toggling between two representations of the fields: one shows the field value; the other shows the field code. For a mergefield, you can see the value from the data source by previewing the results.
Not unless you print the document with the 'Print field codes instead of their values' option checked. Without that, the printout will show «Company».

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Cheers,
Paul Edstein
[Fmr MS MVP - Word]