Why theano UFOs

I'm not sure if I should address this the Ian or Joe. I'm curious
about the effects of frame dragging.
Two questions: Is there a theoretical limit on the rate of spin of a
black hole? Also,just out of curiosity, if an object is in a stable
orbit around a spinning black hole, in the direction of spin, will
it's orbital velocity be "faster" to an outside observer than if the
black hole was stationary?
Two other questions I just thought about: If an object is orbiting
opposite the direction of spin of a black hole, can it appear to be
stationary to an outside observer if the frame dragging equals the
orbital velocity? Also, if an object is orbiting a black hole in the
direction of spin at sub-light velocity, can it appear to be orbiting
at faster-than-light speed to an outside observer if the frame
dragging is sufficiently great?
Chris