Do I need to re-index after I have installed Last Comment?
No, a re-index is not necessary for the Last Comment Custom Field to work.
Can I control the size of the last comment displayed?
Yes, you can modify the maximum length of the content in the custom field via the configuration page.
Do I need to create a custom field to display the last comment?
Yes, you need to create a custom field of type: Last Comment and add it to the appropriate screens in order to view the last comment in a custom field.
I think I found a bug. What do I do?
Please report all bugs at: https://capitalplugins.atlassian.net/browse/LCCF