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Pretty much every developer I've met in advertising has seemed deeply unhappy. Seem to be quite unappreciated compared to developers in other industries (bought in late to projects, blamed if things go wrong, no credit)
As long as you don't start calling yourself an "idea developer" or "thing maker", you should be ok.
It's hard to advance in advertising. The big holding companies make funding raises very difficult. Based on what I've seen, your best bet is to hop around companies
I don't think so, once your reach a certain level the only way to advance is into management.
Once you hit Director, the only place to go from there is CTO. There aren't a lot of options, unfortunately.