The machine should have the capability to run the spindle as a "C" axis, assuming you have the servo spindle drive. (It's optional.) With live tooling, you can then do certain milling, drilling and indexing options.
Live tools are controlled by a limited number of relays, operated by M code. Basically just off and on, near as I can tell, so any additional control like motor speed, etc. has to be done separately/manually.
Mine appears to have two additional relays, and the manual seems to imply that a few more can be added, all of which are used to control bar feeders, parts catchers, live tools, additional coolant and other goodies.
Doc.