1. When you say the BPM counter shows nothing, do you mean the 4 "bars" at the top of the XDJ-700 GUI? If your XDJ's are connected via ProDJ Link, these bars should be moving in a manner that coincides with the beatgrids and play position of each deck. If they're aren't lining up properly (ex: the first bar with the first beat of a measure) then either the grid is off a bit or there's something else going on entirely. I also may be misunderstanding the problem, maybe post a video?
2. While I don't work for Pioneer, I'm willing to bet that there's simply too much of a difference "under the hood" of the CDJ-NXS2 and XDJ-1000MK2 in terms of processing power that would allow certain function updates to the XDJ-700/1000 MK2. Trust me, as a XDJ1000 mk1 owner, I would love for its functionality to catch up to my 2000NXS2 decks, but there are some things that are, unfortunately, beyond a firmware update due to on-board CPU/processor differences between the respective units.
Never say never, there's always a chance Pioneer may develop a way to perhaps add a couple more hot cues. I would guess there's a better chance of that happening than multicolor waveforms since the later would no doubt require more GPU power that the XDJ-700/1000MK1 simply doesn't have.
I'm sure @Pulse or @Mark will definitely chime in to correct me if I'm wrong.
Cheers.