Some esc lvcs pulse the power so you'll see a hestitation, I believe others, power is cut. Its quite noticeable. As you get more experience, you'll notice a slight power fall off as you approach the lvc - I shut mine down when I 1st notice the power fall off, I rarely drive all the way down to the lvc.
Balancing charger - you'll see that individual cell voltages, or can by pressing buttons on the charger. The lipo charge routine is diff than charging other batts like NiMh. Lipo charge has two phases - its CC/CV. In the 1st phase, the lipo is charged at a Constant Current that the charger determines based on the cell count (2S, 3S, 5S, etc) and capacity (mah) that you input. This proceeds until the max cell voltage of 4.2v/cell is reached. Then teh charger switches to Constant Voltage - holding the max voltage on the lipo as the lipo tops off. You'll see current decreasing in this phase and as it gets pretty close to zero, the charge is terminated and chargere signals lipo is finished.
A proper lipo charger will do it all for you to keep everything safe. All you have to do is make the connections and input the correct info about the lipo you're charging.