Second, if AMMO/MIG is an acrylic medium does the usual thinners for acrylics not work with this product?
No, unfortunately not all acrylics thin with the same products. Isopropyl based thinners, like Windex, windshield washer fluid and isopropyl, itself, work on acrylics like Tamiya and Gunze but DO NOT WORK on the newer acrylics like AMMO/MiG, Vallejo, Modelmaster Acryll, etc. These thin with water, distillled water, their proprietary thinners (mostly water with a couple of additives) or acryllic medium thinner, which is a medium to thin the pigment density without reducing the viscosity much for brush painting (and for airbrush thinning you want to reduce the viscosity so don't use this for airbrushing).
If you are spraying any of the water-based paints, I heavily recommend adding a drop or two of "flow improver" or "retarder" that slows the drying a titch thus reducing the build-up of paint on the airbrush nozzle and helps the paint flow and even out on the model. No more than a drop or two to a 1/4 oz cup is all that's needed, but it really, really helps the airbrushing.
Clean up afterwards first with water and only use a more agressive thinner (like lacquer thinner) when doing a complete teardown clean. DO NOT use lacquer thinner in the paint as the paint will clog and curdle. Isopropyl causes the same effect, but doesn't break down the paint making it even harder to clean up than if you mistakenly used lacquer thinner (ask me how I know!).
And, just to be complete, don't use any of the normal enamel thinners (varsol, turpentine, turpinoid, etc.) on these paints as the mess is as brutal or worse than with isopropyl.
Here endeth the lesson...

Paul