Hello Kynto...
I've used UGF's in my first years of fish-keeping as well.
To answer your questions:
1. The gravel is your filter-medium! The water-flow in this setup is from the top to bottom, through the gravel (filter-medium with bacteria growing on it) under the plastic plates and then flow to the clear plastic tube up to the Powerhead which then spits it out into the top-level of the tank again.
So in this scenario, the gravel has 2 functions:
1. Mechanical filtration. All coarse dirt will get stuck between the gravel and only clean water passes through.
2. Biological filtration. The gravel has a lot of surface on which bacteria will live. They will break down nitrates/ammonia and so on.
Now, the problem with UGF's is that all rubbish gets into the gravel.
This means that if you not vacuum/clean your gravel on a regular basis, there's more and more dirt stuck there and it will eventually block the water-flow.
That's why cleaning your gravel regular is a must! Not only the top layer, but as mentioned earlier, with deep gravel vac's!
Now, since you have only 1 Powerhead, instead of buying another powerhead, you could consider an air-pump connected to the other uplift tube if you have the right cap to put on the bottom and the top.
This air-pump would just pump air in the bottom of the uplift tube. The air would flow up of course, and as a result create an upward flow of the water as well!
This works the same as with your powerhead, but with less efficiency.
Additionally though it would add extra oxygen into your water.
Buildup of toxic materials is almost as certain as with any other type of filters if you don't maintain your tank regularly. It's maintenance that prevents it and for this type of filters it is deep-vacuum your gravel. Simple as that.
As a positive, UGF's are typically clearing up the water much faster from any free-floating rubbish. As a mechanical filter, it's very hard to beat by any other filter I know except maybe Fluidized Bed Filters. (But those operate on the same principle of having a sand/gravel filter with water being pumped through anyway).
Hope this answers your questions.
Good luck, keep sending those questions.
Luc