A: NO! Check out this concise article at "howstuffworks" with the right words in bold face: 110 to 144 proof, wormwood, distilled, thujone, chlorophyll, and they put the thujone in its place:
By the end of the distillation process, there is very little thujone left in the product. Modern science has estimated that a person drinking absinthe would die from alcohol poisoning long before he or she were affected by the thujone. And there is no evidence at all that thujone can cause hallucinations, even in high doses.
Via Selmac on the Wormwood Society Forums.