It adds new objects (casks and tablets) to existing cells, expands some vanilla cells, and adds new ones. Six dungeons are expanded: Vilverin, Sercen, Ondo, Telepe, Nagastani, and Piukanda, and the rest are completely new.
AFAIK, there are no conflicts with the UL mods. They are compatible with OOO, though you will notice some oddness with the levelled lists in the ruins (there's a standalone mod called Morahame Expanded along the same vein that has a separate compatility plugin for OOO/FCOM).
L25+ is a good recommendation. Some of the enemies are very tough. I played through it with OOO+MMM at L30ish and had some hard battles. This will be my first time playing it with FCOM, so it should be interesting.
The dungeons are difficult - like brad said, some of the switches are hard to find, and the traps are very unforgiving. Don't mess with that locked door in Sercen unless you have a key!