H1B Laid Off - New petition filed

[h1bguy7]

I was laid off on 22nd August 2014 and I found another employer who filed for my H1B transfer petition on Sep 17th 2014 ( Receipt date). 

My previous employer has not yet sent the request to revoke the H1B petition. I have pay stubs till the end of Aug 2014. 
I received an RFE on Sep 23rd 2014 requesting the employer to provide SOW and other project related documents. 
The RFE will be responded around 15th October 2014. 
I understand I am out of status since the H1B petition was filed 25 days after my employment termination. 
I have an I-94 valid till Apr 2016. 
My employer has made it clear that I can join them only after H1B approval. 

1. Can I continue to stay in the US until USCIS makes a decision on my pending H1B petition? Or is it better to leave US and come back after approval? 

2. If I leave US before petition approval, Can I come back using my existing H1B visa stamp from my ex-employer and the new I-797 petition? 

Please advice. Thank you!

[jairichi]

1. You can stay.

2. Yes, you can.