Hi,
1- The link you see in LightMart template
FOR A LIMITED TIME ONLY! ALL BOSE® PRODUCTS ARE %25 OFF
Is an ordinary Custom HTML module. That text has been manually written and the module has been published in a module position (into the
toolbar-l but Asymmetric doesn't have
toolbar-l module position)
2- Yes, you need to create a SALE category and put the DISCOUNTED products into that category. Otherwise, there will be a complete mess, the discounted products from different categories will be listed randomly. Creating SALE category is the most appropriate way. You can also create sub-categories under SALE parent category to make things more organized.
On the other hand, Virtuemart (officially) doesn't have the feature of showing the DISCOUNTED products automatically with an URL, (without creating a category for them), there are some 3rd party extensions and Virtuemart hack methods to achieve this, but it is not recommended. Trust me, the result won't satisfy you. It is better to create a separate category for SALE products. And behave the SALE category as an ordinary product category. (only difference, you need to add only the discounted products into that category)
Regards,
Support