1.) Squirrels will bark at deer... BUT squirrels will bark at anything and everything... all day long. They can and will occasionally tip you off t deer but I sure wouldn't put to much stock in it. Far to unreliable and inconsistent to worry about.
2.) How much time a hunter should expend in pursuit of a wounded deer totally varied case to case. Of course, knowing exactly where you struck the animal is the bigest factor that will decide how long to give 'em and how far to pursue them. They certainly isn't an answer we can carve in stone here. However, I do believe most deer are lost because the hunters push the animal far to soon. ALWAYS give the animal time to lay up.
3.) It won't be the end of the world if ya don't get a deer but you still have plenty of time this year to get that done. Besides, you're more than welcomed to any of my venison, where should I send it?