yep he will, in fact he will even breed with other cichlids if he can't find a mate of his own species.
I don't know if this is a good idea, but i heard that trimming the tail fin a little would promote the healing process. I have read that this was done in a green terror. the story was that the a part of the tail fin was bitten of and won't grow back anymore so the keeper trimmed it and then it started growing again with much more brilliant colors.