Ships & Modules

Sorry if there has already been a thread about this, I am trying to do this on my phone from work (brainstorming Eve...derp) and my phone hates the search function it seams.

So questions -
1) Does the module lock targets as soon as they are available or is it only on activation and duration (5s)?
Example, sitting at range with Arty Cane. Stealth bomber uncloaks 20k off, will I auto target as soon as it decloaks?

2) Upon locking, if modules are preheated will they activate as soon as target is locked?
Example. same as above but with preheated guns and point. Would the modules activate as soon as lock is obtained?

Compete scenario - Instalocking Loki sitting on a hisec station one jump out of low sec. Station is regularly used by pies to rearm and reship. If I had Guns/Web/Point all preheated and Autotargetting system on, would my Loki lock and fire as soon as target is lockable?

Thank you for your reply.

The only reason to use the autotargeting module is for the extra locked targets.

It doesn't actually target anything in any way that could be considered reliable.