So many questions
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Let's see if I can help:
My real question is how good will this thing work at other frequency's?
Not very well. The idea is that an antenna resonates over a narrow range of frequencies and as you move outside of that range SWR increases and receive losses mount.
Would this yagi work better for a long range 433 link than some kind of home brewed collinear or cantenna?
Yes, after it has been retuned to the 433 MHz band by increasing the length of the elements. A collinear will radiate your signal equally in all directions and is therefore not so good for long distance whilst a cantenna is normally used for microwave or wifi signals.
What's the deal with the number of elements, this is a 5 element, why not a 3 or a 10 element? I know the back element is always the reflector but and then you have the main element cut to wavelength, but other than that how does the amount of elements effect things?
The greater the number of elements the more power is pushed out in a forward direction compared with a simple dipole, this is normally given as a FORWARD GAIN figure along with the FRONT TO BACK RATIO. As you add elements both gain and front to back ratio increase. Note that all elements in a beam antenna are cut to length according to the frequency of use