My iPad 3 struggles with iOS 7, so I imagine the iPad 2 with the same processor will be dropped a well. Apple did stop selling the iPad 2, so they wouldn't have issues with "supporting" a still sold product.
Probably, but it will not support all features of IOS 8 and the performance will not be optimal . We should soon hear from Apple what will be supported.
It might support
but I thinking about my iPod touch 5G
iPod touch 5G have not same internal as iPad 2
I look deeper and I found out the a5 in iPad mini and iPod touch 5 is 32nm and a5 in the iPad 2 and iPhone 4S is 45nm
So it have some chance aswell iPad 2 might not support
The only major difference between 32nm and 45nm is energy efficiency. Performance between the two are nearly identical. The 32nm was a test bed for Apple manufacturing the 32nm A6 (they wanted factory to start producing 32nm before the iPhone 5 launch date so try wouldn't run out of orders due to manufacturing).