Certainly. To answer both of your questions in one scoop, remove the original script and add the below code reference instead:
Code:
<script type="text/javascript" src="anylinkvertical.js">
/***********************************************
* AnyLink Vertical Menu- © Dynamic Drive (www.dynamicdrive.com)
* This notice MUST stay intact for legal use
* Visit http://www.dynamicdrive.com/ for full source code
***********************************************/
</script>
Then, use anylinkvertical.js that's attached below. It lets you set the vertical offset for both when the menu is dropping down (default), and dropping up:
Code:
var verticaloffset=[10, -10] //vertical offset
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