If you review a display of the "Highlights" (aka blinkies) of a captured image and don't change to a different display, I believe the camera will automatically display that view instantaneously after you capture the next image. My D7000 is in the repair shop but that's how my D5100 works at least when using a remote control to release the shutter. I assume the D7000 works the same way regardless of how the shutter is released.
That displays the over exposed areas but there is no display of the underexposed areas.
If you buy screw-type auto focus lenses, they may not have that switch, at least some of mine don't. A lot of Nikon lenses in the longer focal lengths have a switch but placing it on auto focus still allows you to manually focus without changing the switch on the lens or camera to manual.One aspect that bugs me is a manual focus switch on the camera and on the lens