You won't be able to have Windows guest VMs unless you use an ARM version of windows (Currently in Beta). And then no you can't give it to a colleague unless she is also running an M1 mac.
Yes but the VM started on the M1 chip must be Windows 11 ARM edition that is still in customer preview. It will only work on M1 chip macs, it can't be transferred to an intel based Mac.
If you rely on running windows VMs, a M1 based Mac isn't the right choice for you.