1) No, Hornet cannot activate it's effect upon equip.
2) Yes, Damsel and Centibeet effect will take place as Hornet is already equipped.
@Pokekid88, you cannot use that example in this situation as equipping the Hornet to Damsel / Centibeet happens at the resolution of the effect. So you can't actually chain MST to it.
Dear members,
Be sure to post a message once you have been registered. As I had just cleared 100+ member with no post in the forum. I am trying to keep the forum neat and tidy. Those users who just create an account to just come in to look and see, I am sorry but I have deleted the account. I would believe only the trading post is will be viewable to members so there should be a need for a guest to create an account to see what events we are having.
Also take note that TRADING THREADs are going to be auto prune everyday. Condition will be a post every 7 days else it will be deleted. Again its to keep neat and tidy in the forum.