Hello,
1), 2) If you don’t plan to set different price/image depending on every variation you can make it without detailing, for example http://prntscr.com/j7sq7j But if you plan to change the price depending on one attribute, size for example then you need to create the variation for every size http://prntscr.com/j7sr02
In case every attribute with combinations will have different prices then you need to create them all. You may also post your question on WooCommerce support forum and ask developers, maybe they will suggest you some better solution. This option is not theme option, so we provide only general consultation about this.
3) Your site is very slow even with the default WP theme (8s) https://gtmetrix.com/reports/honeysexdoll.com/z6N1fP0a , with our theme (8.4s) https://gtmetrix.com/reports/honeysexdoll.com/2o0cYbqO
I think you need to contact your hosting provider first to speed up all the moment related to the server. After that use cache plugin, disable all the plugins that you don’t use and optimize images.
Regards