Okay trip yourself over to the official SmartXX website, and you'll find the manuals for install there:http://www.smartxx.com/manuals/manuals_00.php
BUT the rest of what you are asking is never told through an install manual as this is basic soldering skills, but to briefly help.
Firstly get yourself a low wattage iron 15-25watt MAX, anything more you'll risk damaging the mobo through heat.
Break Off - Well that depends if you use the Non-Solder adapter, but as you mention soldering then no, if you do accidentally then you can rejoin the connection using the indicated area and solder (looks like 2 half moon solderpads)
Removal of solder: Use a solder pump/sucker, ask in your local Solder Hobby shop and they'll provide one. best way to do this, is prime the pump, heat up the solder on one side of your LPC, once the solder melts, use the pump on the other side of the mobo while you continue to apply heat, out it comes nice and neat.
Wire Braid - If using a solder pump you wont need this, but braid is not the greatest, and you have a LOT of solder to get rid of and probably not the best way forward, ideally you would heat up the solder so it melts and place the braid on it, this then attracts some of the loose solder to the braid, far better to solder pump iit away instead as this can get messy and if you are not skilled in soldering you'll probably put way to much heat through your motherboard and potentially damage it.