Hi K, I would point out that you asked 2 questions in 1. I can only help with the one regarding "which is faster"
This is a question that has different answers depending on the operation you are doing. Pure SQL statements that retrieve, update, or otherwise process data in a form that do not require complex, continuous or repetitive visiting of the same data will nearly ALWAYS be better done on the remote server, rather than selecting to a local Access DB using temp tables.
On the other hand, if you want to do a lot of repetitive crunching and updating, and then push the result set back to the server, then a local temp table MAY perform better, but I can confidently say most of the time, you can just perform the work, if coded properly, directly against the target server without temp tables. Also, it is possible that your Oracle server has much more horsepower than the local PC based database.
I will not address your first question, as I do not know the technique, but will point out it is preferred that you post individual questions rather than 2 in 1.
Good luck.