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I'm loving the game! Here are a few questions I have about detailed battle.

1) Is there any downside to giving "reaction" orders? Do they take away from movement points available in the next turn? Is there any reason not to give every unit on the map a reaction order every turn?

2) When cavalry move due to a reaction order, do they also fire point-blank, or do they just stop next to the enemy that triggered the movement? What's the point of cavalry reaction orders?

3) I'm having trouble interpreting the shakiness of the icons. Am I right in thinking that low morale, shakiness, and disorder all show up as jiggling units? How can I tell which is which?

4) Perhaps shakiness and disorder should be listed on the unit box under "fatigued" and "threatened" so there will be no question about it.

5) I'm a little unclear about cavalry screens. What do they do, exactly? Do they provide sighting or merely block it? and do they deal or take damage in any way?

Thanks!

2) They just move.  The point is that if the opponent ignores your cav, then you merely have to turn and charge.  (or sometimes, just charge.)  Also, if you set your cav right, 1-2 cavs can protect multiple cannons to prevent them from being charged.

3) low morale -> shakiness is indicated by how hard/how much the unit shakes.  disorder looks very different.  The unit does not look "in formation" anymore, and looks like a mob of random dots.

5) Cav screens block line of site. It does not deal or take damage in any way.
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And a question of my own:
What are the effects of skirmishers?

Good questions on the reaction and since i'm not a reaction expert I'll let someone like Eric respond to it as well. 
 
3) sw30 has it correct.  In addition, the color is faded out on disordered units.
4) The actual state of 'shaken' actually is mentioned under the fatigue/disorder.   If you don't see it then you're not technically shaken.  If your dots are just wiggling around in formation, then it's more just low morale.
5) In addition to what sw30 says, I believe there is also a movement penalty which impedes, but does not prevent, the enemy from moving through.

1) You need to have at least half your movement points remaining to issue such an order, and when you issue a reaction order it ends your normal turn, so this precludes doing things like firing then reacting.
5) Cavalry screens should take some morale and strength damage when their cohesion is decreased... it should be 5 points of strength and .01 morale lost for every % of cohesion.  If this isn't in the manual, I'll make sure it gets in an update of the in-game help.