URGENT : help required on L2 to H4 conversion

Hello ,All,

My L1B visa and I-94 is going to expire on November 2012.

I applied for H1B visa (L1B to H1B through the same employer) the current status of H1B is "Initial Review"

As my wife was in India when I applied for my L1B to H1B conversion I did not apply H4 visa for my wife (L2 to H4). Now my Family is back and they are in US now. My wife's I -94 is valid till 2015.

We are planing for a India trip in December 2012, I know if our visas (H1 and H4) are approved we have get it stamped before entering in US.

I have a some concerns/qusetions

==> Does my wife's visa conversion need to be approved before we leave US ? 
==> If we leave US before her Visa conversion is approved, whether it will have an impact on the approval ?
==> If we leave US before her Visa conversion is approved (Mine approved) whether we (Both of us) will be able to get our visas (H1 & H4) stamped in India ?
==> If I did not apply for her H4 conversion, and my H1B is approved, whether she will become illegal and have to leave US. In that case how long she can stay once my H1B is approved.

Your assistance is highly appriciated. 


Thanks in advance....