I spent some time typing up a detailed response, but was disconnected once I submitted it.
Basically what I typed was that in the NBA, the home team wins roughly 60% (more in playoffs) of the time, due to various factors which may be subjective or unmeasurable. Thus, it would be logical to assume that a home team has a 5-10% increase in performance, or an away team has a decrease in performance.
For the second question, look at the 2014 Suns' and 2014 76ers' offensive ratings. The Suns boast a rating of 108.9, 11% better than the 76ers rating of 99.0. A 20% better offense would be a rating of 118.8, good for greatest offense of all time (I may be wrong, but could not find a listing of all time NBA offenses with a quick google search.)
It is safe to say that a team 20% better than another would win a significant amount of games over their lesser opponents. While homecourt advantage would help the lesser team, a 20% discrepancy in skill is enormous, and it would be an anomaly for the lesser team to win at home, let alone on the road. The above calculation only considers offense after all.
This is all speculative and BB's GE cannot possibly account for all real life aspects. However, I would say it is not unreasonable to believe there is about a 5% advantage for a home team. Ideally, the GE would have characteristics of real life basketball, and use realistic performance adjustments.