Dont know about the radio, I've not much use for that but yes you can man the hydrophone. Just click on it, and you'll be there. But unlike previously in SH3 you operate(rotate) with the mouse wheel.
And yep, just like in SH3 I can hear ships that the sound guy cannot.
However unlike SH3, my watchofficer can see things on the horizon that I cannot.
He'll say, "Smoke on the horizon, bearing 250" and I'll say, "you can see that?" Man.............