That first word is a “hail and well met” acronym, ICYMI. We’d associate it more firmly with Byron after this, though it’s meant to be a general “adventurer’s greeting.”

Cartoon logic clearly applies here, but I still hope E-Merl didn’t tell Gralor that he was one of those responsible for the false mating call that led him back out to sea. Because if I’m reading that body language right in panel 4, the hunt for mates could be going better.

Not sure if Phil spelled “Kraken” with an extra K to distinguish the Arkerran species slightly, or if it was just a slip.

I don’t think we’re depriving you of too much for the sake of this punchline! Gralor’s species is unintelligent sea life: he really only gets to be a named character because others herded him into a starring role. What do they do for fun? They swim around and eat.