Terminal Leave

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Yes. No.

I was worried about this, too. Although some places will want a DD214 to employ you, and I'm not entirely sure if you can bill Tricare. I would assume no.
 
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I think technically no because you're still in the military until your separation date. However in all practicality yes. I had about 8 weeks of terminal leave. It was closer to 10 weeks when you factored in time for out processing etc. I did some weekends (moonlighting) at my new job during my terminal leave towards my official start date for full time employment. I did not start full time until after my leave was up. I did this primarily because I wanted a bit of a break. Unless you are pressed for cash, take the time off. I was really productive during that time with the move and transition and vacation.
 
It's been about 10 years but I doubt much has changed. I started working as a contractor at my exact same active duty job. Same Office same chair when I was on terminal leave. As I recall somebody had to approve it but it wasn't a big deal.