It should be compatible with 1.0 yes, all 0.18 mods are. Haven't personally tested yet, but should be fine.
This mods changes the map at runtime, so only discovered parts of the map will turn into the earth. If you would first play a bit with the mod, and then disable it, any new part that is generated will use the default map-generation then, so won't look like the earth any more. So won't really work without the mod in multiplayer, not for any newly discovered parts at least.