1) The I2C module is designed to meet the spec for Standard Mode as defined in original I2C specification from Philips/NXP:
http://www.nxp.com/documents/user_manual/UM10204.pdf
Data can be transferred on I2C bus at rates up to 100kbit/s in standard mode.
Prescaler in I2C module on MPC5675K allows us to set also higher speeds.
The speed is not limited to 100kbit/s. It depends just on your system clock and on prescaler. And it is also limited by capacitance of physical bus, of course.
With your setup it gives me theoretically up to 1.875MHz.
2) It does not matter, the specification is the same for all multiplier factors.