French infantry squads

We're about to set up our first Blitzkrieg scenario and just want to confirm that the French infantry squads with an LMG group and a rifle grenadier group move and fight with two (one each) separate orders like the German units we are more familiar with in later periods

Correct. Two orders are needed as they French squad has two units.

Murky Buckets. Two units, so the loss of one means take a counter, ne c'st pas?

yes indeed it is