Yes. All Oatey thread sealant tapes are safe to use with potable (drinking) water.
Fill the male threads in a clockwise rotation following the direction of thread pattern, or brush across the threads as long as you fill the root of thread without completely covering the crest of thread. 
We have posted a direction sheet for this process on our website in the technical bulletin and FAQ sections.
No. The PVC cements are too aggressive and will cause probable failure to the CPVC pipe and fittings and if it was used, the joints should be cut out and replaced. If CPVC cement was accidentally used to bond PVC joints, it would not be necessary to replace them but future joints should be assembled with correct cements.
Oatey has developed this cement specifically for this application and it is UPC and NSF listed. In saying that; we do recommend that you check with your local building officials and see if they have any restrictions on its use. The UPC and IPC codes are a minimum guidelines and each city, county or health department can set forth tougher guidelines which may prohibit the use of transition cement.
We cannot support these applications although a semblance of a bond may exist. It is a violation of all plumbing codes to use cements not specified for use with materials it is being applied to for bonding purposes. These joints should be cut out and the approved transition fittings used to finish the application.
Interference fit is the pre assembly test you apply to the pipe and fitting. After pipe is chamfered you will dry fit the pipe into the fitting and you will want resistance between 1/3 and 1/2 way into the fitting. This will allow for a good bond when cement is applied. If there is no interference fit, you should not try to cement the pipe and fittings together.
All Oatey PVC and CPVC solvent cements have been tested to NSF standards and are approved with use on drinking (potable) water systems.
Oatey cements and primers have outside lab approval for lines that carry drinking water (NSF). The plumbing system carrying the water should be drained by first shutting the water off at the water meter, which is most commonly found in the basement on the front wall facing the street. If you have a home on slab, it should be in the mechanical room with the furnace and water heater. Open all faucet valves and allow the interior piping system to air dry overnight.  This will allow most of the remaining vapors from the cement and primer to dissipate and escape, air movement is a huge plus.
You can use the online charts to calculate the cure time for your specific application. Please review the documents below and read our blog for more helpful information. Solvent Cement Cure Charts Solvent Cement Instructions If you need further help with cure times, please contact our technical department.