To know more about the Bacon Orb, go to Valencia and do the 'Bacon Origin' questchain (You can get to Valencia using the 'Bacon Orb' button in the Book 1 book of Lore). That will answer some of your questions.
The element is Bacon, but due to the presence of Fried Egg Elementals, I suspect it is actually the Plane of Breakfast.
According to Word of God, 'Good' and 'Evil' elements don't represent actual elements. 'Good' damage is always used for weapons that unify the elements (Glory weapons, Elemental Unity etc.). 'Evil' damage is simply done when there is no associated element, where 'Good' damage doesn't apply. And 'Fear' damage (which is easily confused with 'Evil' due to the identical icon and soundbite) is done instead of 'mana' damage (such as in the Manacrest fight).
For ease of discussion, 'Mana' damage (which is an 'element') should not be confused with 'Magic' damage (which is a damage type- melee, pierce, magic). This is also why 'Mana' damage isn't called 'Magic'.
Fluffy was already aligned with darkness, since Seppy cast a darkness spell to make Fluffy a dracolich (since he was wearing Doomknight armour, his most powerful spells would have been darkness ones, due to the darkness spirits imbued in the armour)
As far as we know, only nine orbs were created, eight by the avatars, and then the Bacon Orb which had its own unique origin.
Why is mana damage 'Fear'? Since mana is comprised of two forces in conflict, I doubt that it is called 'Fear' damage for no reason.
Also, what type of existence do spiritlooms have? If you plunged different element looms into an aluminium sheet, what effects would it have with the aluminium?
And lastly, and most importantly, are there elemental spirits aligned with the Breakfast element? Why aren't there Baconlooms?