I think every-other-letter checked (including first and last) is pretty standard on this style of grid! But in any case don't worry, now that barred grids are possible I'll be using those for basically everything :)
"Exhibits" is right on the line for me - personally I think it's okay for a container, as is "displays", while "shows" (which some constructors use) is a bit too vague. But that's certainly a matter of taste.