The UNC “Admissions Policy” (http://www.admissions.unc.edu/files/2013/09/Admissions__Policy.pdf) states on Page 1 at the bottom of Part III the following:
"In seeking variety within the total number of students admitted and enrolled, the University shall affirm its commitment to achieve excellence, to provide for the leadership of the educational, governmental, scientific, business, humanistic, artistic, and professional institutions of the state and nation, and to enrich the lives of all the people of North Carolina.
In the application of this policy of competitive admissions to nonresident students, preference for admission may be given to nonresident applicants who are children of alumni of the institution."
On Page 2 of the “Admissions Policy” it further states as follows:
“In the application of the provisions set forth in III above, preference for admission shall be given to qualified residents of North Carolina; provided however, that in recognition of the educational and other values accruing to North Carolina students, to the institution, and to the state from participation of nonresident students in the programs of the institution, nonresidents may be admitted in the entering freshman class in numbers likely to result in no more than eighteen percent nonresident enrollment in the entering freshman class.”
Based on the language that I have quoted, I think that the answers to your Questions 1 and 2 are both, No. While the policy allows for flexibility, there does not appear to be any provision for a set-aside pool for OOS legacies; nor is consideration based on how the OOS applicant fares in comparison to the pool of in-state applicants. OOS students cannot make up more than 18% of an incoming class of freshmen (compared to about 27% for UVA and William & Mary, for example). So the competition among OOS applicants to UNC for inclusion in that 18% pool of admitted OOS students is fierce. My sense is that legacy status will give a non-quantifiable “bump” on an ad hoc basis to an OOS applicant who is broadly competitive with other OOS applicants.
At UVA, by contrast, a child of a UVA grad is considered as part of the in-state pool for admissions purposes but is still considered as OOS for tuition purposes (at least this is what my UVA alum friends tell me).
As far as merit award preference by UNC for OOS children of alumni, all I can say is that it didn’t work for us. I don’t think that legacy status is considered in awards of merit scholarships, at least in the way that I think you are asking.