I am currently in US on H1B which expires on 07/13. My Labor for H1B extension was filed on the evening of 6th July. From what I am aware it normally takes 7 days for the labor to be approved. That means my labor will be approved either on 14th or 15th July.

Q1)
I believe my H1B extension application has to be mailed by 13th July. There are good chances that my labor will not be approved by then. What is the best strategy in this scenario.
Maybe submit the application with a proof that the labor was applied? What will be the implications of this?

Q2) I have another H1B visa approved a year ago and valid till 07/14/2011. I have never worked for that employer but lets assume that the employer has not canceled (or revoked) the visa. Can this visa help me in any way?