Yes and yes. As far as setup, all you need to do is program the HM-10 module to work at 115200 baud. You do this by sending it AT commands via a terminal app (you physically hook to it over a USB to UART adapter like a FDTI or similar, you can't change its settings OTA).
Note iPhone won't see it till you download a BLE scanner app (don't pay for any, the free one works fine). But after you use it the first time it will remember and you don't have to do that step any more.
As far as the multiwii side, there is no setup as long as you are setting the HM-10 to talk at the default serial comms speed (115200), if you've changed that for something else you'll want to set the HM-10 to match. Other than that it's all standard MSP so there's no other setup as far as MWC is concerned.
Just so you know that's a knock off HM-10 (but it should still work), you are risking it tho to save <$15 over a real one (real ones cost about $22 shipped from China)
The real ones have a Second xtal on the empty two pads (bottom left of that pic).
Yes sir that's a real one. You should be able to find one that is just the HM-10 module (the blue part) for a few dollars cheaper if you search but if you're ok with the price yes that ones perfect.
Since kbev added this to his tutorial listing I thought I'd make a follow up post...
I highly highly recommend not using Bluetooth Low Energy "BLE" if you don't have to (i.e. if you're not using an apple product)
The much cheaper HC-05 module has much better range, supports more standard AT commands (allowing you to set the device name and password) and is in general a better match to most Bluetooth devices.