The world will stop spinning at once
No. Multiple apps can use the location manager parallel No problem. No problem. Even Google uses it multiple times in the background (e.g. Google Now) or additional Facebook.
I have my service defined as "sticky":
#Region Service Attributes
#StartAtBoot: true
#ExcludeFromLibrary: True
#StartCommandReturnValue: android.app.Service.START_STICKY
#End Region
I have a timer included to push the location to my MySQL DB via OkHttpUtils every x seconds. I did some tests (phone in my car, screen switched off, no wakelock change). Worked for 5 hours without problems (service was alive after that).