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As long as you did not girdle the tree (cut the bark all the way around), it should recover on its own.

If you did girdle it, they is not much to be done, though you can try this method as a last ditch effort:
http://aces.nmsu.edu/ces/yard/2007/090807.html
If you have any other young trees in your yard, try putting a slitted piece of plastic tubing around the base until their bark toughens up a bit. This will help prevent damage from weed whackers or other objects that could cut the bark.

This is a normal response of many types of trees due to heat or drought-related stress.

Yes, these trees tend to attract swarms of bees with their fragrant flowers.

You need to make sure that they have some roots of their own when you move them. Depending on their size, you may want to pot the little trees up for at least a whole season before planting out in the yard. This way they will be able to form stronger roots.

This article will help you with that:
https://www.gardeningknowhow.com/ornamental/trees/tgen/cankers-on-trees.htm

It is usually better to let it heal itself. It may survive as long as the bark on the intact side has not been too badly damaged. But, the issue will be that the tree will never repair itself to the point that it can support itself. If it survives, it will always need support to keep it upright. You can bolt the tree to provide support. Here is an article that you may find helpful: https://www.gardeningknowhow.com/ornamental/trees/tgen/what-to-do-for-storm-damage-trees-repair.htm