Can organisms compensate for the lack of enzymes in a biochemical pathway by using a different biochemical pathway?
Yep, of course. It's not really a case of 'can', but it's a natural thing that will be enforced. If A can be turned into B and C via certain enzymes, and the enzyme to catalyse the conversion to B is screwed up, then consequently A will naturally increase and the increase in substrate will be shunted into the C pathway, leading to more C.
As for Q5, note the presence of uracil. If there is uracil, it is a strand of mRNA. Hence, it cannot be junk DNA because it's already been transcribed. However, look in your databook and translate that strand; it actually becomes Ser-Ser-STOP. Hence, only two amino acids. However, if it was a DNA strand, then it could have been a non-coding sequence (hesitant to use the term 'junk DNA').