Transferring settings from PS3 to PS4

The PS3 has an option for transferring settings (hotbars, gear sets, macros) to your PS4. I'm pretty sure this option was put in place to accommodate players using the free upgrade service where they give up their PS3 access to get PS4 access instead. My question is about whether it's restricted to that situation.

Could someone who (instead of using the free upgrade to trade PS3 for PS4) is purchasing a PS4 copy and adding it to their account in order to have both platforms available, still be able to use that transfer settings feature in order to sync their settings from one system to the other? Or would that mess up those settings on the original PS3?

Also, if it can be used to sync those settings, can it be used repeatedly in order to keep the settings in sync? And is it available in the opposite direction (from PS4 to PS3) for the same purpose — to keep the settings in sync after making changes?