Did you put it on upside down? Looks good! I'd have to see a side by side but I think I like your way better.
Yes it can. It is sold in shapes that fit certain seats. The Hayabusa seat isn't one they make a shape to fit but you might be able get close. It is not the snakeskin material they use for seat pads. It's the softer, thinner gummy material called C3. TecSpec makes snakeskin pannier guards for hard bags. That might be cut down to fit a seat.