Bait lost: This is 1 of the bugs we have to deal with on the test server. Whenever its finished this should be gone.
Multi rods: You are able to put a float rod or spinning/casting rod in the rodholder. They can be placed in an empty spot or replace another rod that you want to pick up. So you can "park" the lure rod and reel in the fish you hooked on another rod.
I know KP isnt active here, but I can answer most questions probably as I'm also on the testserver.
Please understand the testversion has some (weird) bugs, so most footage youll see will not be what the final product will look like.