No, the Lux Ultra 16 is not capable of controlling 120V AC lighting. It expects 9-24V DC on the input, and will output the same DC voltage that it is given for input.
Can this be used outdoors?
This controller is not suited for outdoor use without a cover, or being placed in a weather resistant enclosure.
Can the mode control each channel independently or does the mode control all channels simultaneously? Have a use case where I'd like 16 LEDs to flicker independently for a candle scene
Each channel is independent, but they are all in the same mode. For the candle flickers you will have a different flashing pattern on each channel.