Nope! V is never pronounced as double u --never ever in any language.
Right.
More with "are" than "or", but it's one of those in-between vowels that Hungarians are famous for.
From the department of no good deeds going unpunished. You're all ganging up on me now? OK, you made me do it. Here's a video in Hungarian with the correct pronunciation. So there.
Ha....told you