i know it does for the horde.. but im leveling an alliance ( currently level 35) and he is still running around lol. it depends on the profile you are using. it can be done but honorbuddy itself doesn't do it. you have to implant it into the profile
just make sure "Train Automaticly" is checked in the "Settings and Tools" section, and it should automaticly train your skills, as far as the mount, unless the profile does supports it, it wont do it, or unless the class has a learn-able mount, like Paladin or Warlock. also make sure "Automatically Select mount" and "Use Mount" is checked.
For me, it bought the Spell, but not a mount to use, actually i let it to reach 40 and bought the 40 mount XD