Good questions. And don’t feel bad about asking. We all start somewhere. Never be afraid to ask any question on here.
Chicken breeds are not natural. They are totally manmade. Roosters and hens do not recognize breeds, they just recognize “Me Tarzan, you Jane”. Any breed of rooster will mate any breed of hen. Any breed of hen will accept any breed of rooster just as readily as she will a rooster of her own breed.
The eggs will hatch. When they do you will have chickens. They will inherit traits from both parents. When you mate chickens that are not closely related genetically (separate breeds quality) you often get a boost from something called “Hybrid vigor”. What that amounts to is that you get an increase in genetic diversity. You can get the same boost by mating chickens of the same breed if they have been isolated from each other genetically for several generations.
Their offspring will be able to hatch chicks. After several generations you lose genetic diversity which can lead to problems with too much inbreeding. The way that has been handled on farms worldwide for thousands of years is that every four or five generations they bring in a new rooster to restore genetic diversity.
I’m not sure what color/pattern of chickens a Silver Laced rooster will give over a Buff hen. They should be mostly white but you might get some interesting patterns. A Buff rooster over a Silver Laced hen will give you what we call red sex links. The male chicks will hatch with yellow down and the females will hatch with reddish down. If they are side by side you should easily be able to tell them apart. If you hatch eggs from the other cross you won’t know which yellow chicks are male or female.