"However, are these transferred SS identical to local SS's?"
Identical in what sense? As far as I know a snapshot is a snapshot is a snapshot, though they can be created for different purpose and based on different schedules. That data in the snapshot will of course be dependant on when the snapshot occured.
"In another words, can I copy these transferred SS's back to the local, and restore data from there? "
I think snapvault restore puts the data back in to the 'live' file system. You may be able to transfer that snapshot back via snapmirror or snapvault by specifcing the snapshot name...I've just never needed to do that as typically our restores are partial vs an entire file system.
"I can then reduce the local SS's, to save local disk space."
Keep in mind that snapshots are only 'saving' the changed blocks so it may say you some, but that will really depend on how much data you're creating/deleting during the time period. I can say that when we have SV enabled, we let snapvault manage all the snapshots (snapvault snap shced) and disable the normal snapshot schedules...you certainly don't want them conflicting with each other.
--rdp