Although this question is off topic, I'll answer it.
yes you can test apps on this device, Apple could know that you are testing on a jailbroke device by it UDID. They will not close your account for that.
No It will not undo the jailbreak unless you upgrade the devices OS via Xcode. Other which it's just like installing any other app.
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虽然这个问题是题外话，但我还是回答一下。
Although this question is off topic, I'll answer it.