Flying giants- i must take a mountain, and only around that mountain, can i use the -1 giant special Correct? If location X is not around a mountain but i take location A mountain, location X still needs me to have 2 giants Right? While location X around the mountain, i get 1 giant.
Giants only get the bonus on spaces adjacent to mountains they control. Flying allows you to conquer spaces that aren't adjacent. It doesn't make you treat spaces as if they were adjacent. So flying giants still only get the giant bonus for actual adjacent spaces.
Flying Sorceross- once during my turn, i can just literally shoot any single active token to transform it to mine? And which part of the players turn, do i get to switch. At the end of his deployment or during his conquest turn.
And also about flying, i can just shoot whoever have 1 token ANYWHERE not adjectent to me at all, once per opponent turn ?
Yep, flying sorcerers are nasty. Also note that it's once per turn per opponent; in a 5-player game, you could hit all 4 of your opponents each turn!
The switch happens on your turn. It's very similar to conquering; you put their piece in the box and you take one of your pieces from the box and put it in their spot.