Yes I believe this is all possible with version 2 assuming I understand you correct... I had to make a few assumptions to answer with a yes.
I'm assuming by control offsets you mean margins and padding... and by inclusion of images you mean background images and encapsilating images for effects like rounded corners... and I'm assuming your self referencing table is still limited to a certain number of levels and you don't need varialble levels of recursive parent-child relationships.
Did this help? Tips are appreciated...
