Thanks for the questions. Apologies - we're working hard to catch up with the documentation.
TerraForm Point Actor:
The TerraForm Point Actor is a class of actor that you can import GIS point data into. If you create blueprints of this class, you can read your GIS point data (with attributes) and use it to select, place and set values for any kind of UE4 actor in a landscape (lights, player start positions, static or dynamic meshes, decals etc...). This class gives you huge flexibility, but you need to create blueprints to use it.
(If you haven't created a blueprint and are using this class, setting the values won't do anything...)
TerraForm Point Mesh:
Another type of point class is the TerraForm Point Mesh. This allows you to place static meshes (vehicles/buildings etc) throughout your landscape using your GIS point data. It's ready to go and all you need to do it is select which meshes to import (individual or array).
It gives you the option to then set scale (x,y,z) and rotation (x,y,z) for each of the meshes, either by selecting an attribute from your data, or by selecting 'Value' and setting it manually for all. If you don't set the 'Mesh' attribute, TerraForm will select randomly from your array (if more than 1 static mesh is added).
Regarding importing Geodetic data:
TerraForm will automatically re-project data in most projection/datum combinations (including geodetic) to the landscape's coordinate reference system - it's only the DTM you need to project to a planar coordinate system for now (we're adding re-projection to that at present).
Hope this helps.