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If a task is completed before schedule, will the resources be freed?
Celoxis does not automatically free up any resources. However, you can use the RLC to show all resources in the given time period, who are assigned to tasks that have a Task Status as Completed (Task : Schedule Status filter: Completed). This will show all resources and their allocations on tasks in that period that are already completed. Since these tasks are already completed, the allocated hours against those tasks are potentially free. Then, you can assign those resources to other tasks.

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If a project is put on hold, will the resources be freed?
Once again, Celoxis does not automatically free up any resources. However, you can filter the RLC to show all resources in the given time period you require, who are working on tasks in projects that are in the On Hold. (Project : Phase : On Hold). Since you know that project is on hold, potentially all that allocation you see on the chart is freed up and you can choose to assign those resources to your tasks.

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