the live rock houses nitrifying bacteria. The more live rock (if you stock heavily) the better your tank-as an environment-will be able to bread down waste and turn it into nitrates.
A lot of people with little live rock will add bioballs or something to their sump to give that bacteria something to be housed in.
The problem arises when theres TOO many surfaces. Like a bunch of bioballs with live rock-which is why some (including myself) opt out of bioballs-they become nitrate factories. Which is good if you need waste to be broken down but bad when you have nowhere to export the nitrates to (like a skimmer or nitrate reactor). Then you have the problem of 50+ ppm nitrates...
I opt for lots of live rock, a nitrate reactor (that flows into the skimmer) and a skimmer. Thats all the filtration my 25 gallon has. Before I added the reactor, I hit 50 ppm nitrates. took about 4 weeks of the reactor running before it went below 20. That was with weekly water changes.
Now-for your question

If you add cured live rock, say...6 months down the line, you will want to make sure that it is kept wet from the time if leaves the LFS tank, to the time it gets into your tank. You will be fine.
Die off occurs when it starts drying out. The longer you have it dry, the more die off. The more die off, the more ammonia thats introduced into your tank. Ive heard horror stories of people re-cycling their tank because of that. As long as you do it the right way, you can add as much or as little as you need-whenever you need it.