1st) That's how the specific spell is written while assuming you're small/med, but you should look at more general rules of polymorph spells. It doesn't list turning Colossal to small, but you could extrapolate.
http://www.d20pfsrd.com/classes/core-classes/wizard/arcane-schools/paizo--- arcane-schools/classic-arcane-schools/transmutation
2nd) Same link states:
"While under the effects of a polymorph spell, you lose all extraordinary and supernatural abilities that depend on your original form (such as keen senses, scent, and darkvision), as well as any natural attacks and movement types possessed by your original form. You also lose any class features that depend upon form, but those that allow you to add features (such as sorcerers that can grow claws) still function. While most of these should be obvious, the GM is the final arbiter of what abilities depend on form and are lost when a new form is assumed. Your new form might restore a number of these abilities if they are possessed by the new form."
So was the SR granted by race, class, or other ability?
3rd) I'm assuming the new humanoid type makes you vulnerable to the spells that target that type of monster. I'd point to the same quote above for support of it being the GM's decision if challenged.
4th) Dismissing a spell is a standard action that does not provoke attacks of opportunity.
5th) I'd recommend a spellcraft check to identify a spell as it is being cast (given they can be seen and heard).
"A creature that successfully saves against a spell that has no obvious physical effects feels a hostile force or a tingle, but cannot deduce the exact nature of the attack."