i have tried cutting springs and the result was unpleasant! when springs are cut, tension seems to increase greatly! car bounces and tires don't seem well planted at high speeds affecting handling and braking, which can be a great hazard! i'd suggest that you get a good set of lowering coils!
no u DONT cut those springs
i dont know what that part from suspension called, but u'll do a lot of alliment due to the spring off the 'lock' thing..the best to do is get a set of springs and a suitable shox for it.