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1. Good question. The "Inspired Defense" ability says it modifies the "competence bonus against charm and fear", while the actual "Inspire Courage" ability provides a "morale bonus against charm and fear".
It's very likely that this is a typo in the Inspired Defense ability, and that it's supposed to apply to the morale bonus. Otherwise it wouldn't actually do anything.
2. Another good question. Since you have to be able to cast the non-mythic version of a spell in order to be able to choose the mythic version, the existence of "divine favor" in the list of mythic Bard spells must be an error.