Here's page 10 of Fusion #15, and Wandering Whistler begins to give a bit of background detail, although some of that detail seems to trip Fusion up a bit.
According to what I understand of Dr. Chris Parson's (Dr. Electric) research and theories on the Inceptiverse and multiverse (you can read his interview in Faces magazine earlier in Fusion where he talks a bit about this), I think the concept of Limbo would exist in this multiverse. It boils down to a basic multiversal conservation of energy: when creatures die, their life energy (i.e., soul) doesn't just disappear but transitions to another form of energy inside the multiverse (thereby neither adding to nor subtracting from the total energy in the multiverse).
That's a good question. I'm not even sure if Wandering Whistler is familiar with Ringo. Ringo could exist in the spaces between universes inside the multiverse (thereby existing inside the multiverse but outside the individual universes) or perhaps at the edge of time--sort of the ever-expanding boundary of all universes inside the multiverse, and likely a place where the known laws of the universes start to get all wonky as they push into the Space Out of Time (see Bubble Theory Diagram http://fusion.thecomicseries.com/comics/493/; and some of this will be discussed in this story arc).
