No it's not a transwarp ship; it can accelerate very quickly to a speed of up to around warp 9.9999 (faster than a Sovereign-class) and requires 2 warp cores to feed its extreme power demands.
One thing I heard of that can fix the damaging of this ship is to make a copy of the model file, "Europa.nif" in the "data/Models/Ships/Europa" folder and rename it "Europa_vox.nif". This will dislocate many of the subsystems (not model wise) but will allow the ship to damage correctly - I also think that weapons will still fire from the appropriate positions, but when targetted will be in wierd spots.
-CR