H1B-H4 COS

[Ananymous1]

Hi,

I'm on H1B and on 60 days grace period from last 6 days.

My kids are my dependents, i.e. H4 on my H1B, so we are in process of changing their H4s to my spouse's H1B, as well thinking of COS H1B-H4 for mine.
I have few questions with this regard.

1. Is the 60 days grace period applicable to H1B dependents too? 
or they will be considered out of status for the time gap between their H4 transfer filing to my spouse's H1B?

2. I have read it as the 60 days grace period is once petition time, during H1B transfer with my last employment there was 7 days delay in 
filing the transfer (employer has delayed it, I was novice to both H1B transfer process and contract system and resigned in previous company as they said that they have submitted the H1B transfer already by then, in Apr 2015), so these 7 days are considered as part of the 60 days grace period ?
Or as this grace period rule is effective from 2017 Jan, those 7 days will be considered as "out of status"? 
if yes that would create any problem during GC processing?

3. I'm actively trying for new job, if my COS H1B-H4 filing is acknowledged/approved, 
how much time it will take to get receipt for cancellation of COS H1B-H4 and  for COS H4-H1B back if I find a job?

I greatly appreciate your help.

Thanks!!

[Ananymous1]

Can some one please respond, it is urgent...