Yes, to both.
I can show you how to do one that produces a drink:
[REACTION:REFINE_BRAIN_ALCOHOL_B]
[NAME:create semi-sapient brain drink]
[BUILDING:STILL:CUSTOM_S]
[REAGENT:A:1:NONE:NONE:NONE:NONE][HAS_MATERIAL_REACTION_PRODUCT:SEMI_SAPIENT_BRAIN_DRINK][USE_BODY_COMPONENT]
[REAGENT:B:1:BARREL:NONE:NONE:NONE][EMPTY][PRESERVE_REAGENT][DOES_NOT_DETERMINE_PRODUCT_AMOUNT]
[PRODUCT:100:10:DRINK:NONE:GET_MATERIAL_FROM_REAGENT:A:SEMI_SAPIENT_BRAIN_DRINK][PRODUCT_TO_CONTAINER:B]
[SKILL:BREWING]
And here's an example of making a liquid from vanilla DF's honey rxns:
[REACTION:PRESS_HONEYCOMB]
[NAME:press honey from honeycomb]
[BUILDING:SCREW_PRESS:CUSTOM_H]
[REAGENT:honeycomb:1:TOOL:ITEM_TOOL_HONEYCOMB:NONE:NONE]
[HAS_MATERIAL_REACTION_PRODUCT:HONEYCOMB_PRESS_MAT]
[NOT_PRESSED]
[REAGENT:liquid container:1:TOOL:NONE:NONE:NONE]
[EMPTY]
[DOES_NOT_ABSORB]
[PRESERVE_REAGENT]
[HAS_TOOL_USE:LIQUID_CONTAINER]
[DOES_NOT_DETERMINE_PRODUCT_AMOUNT]
[PRODUCT:100:1:LIQUID_MISC:NONE:GET_MATERIAL_FROM_REAGENT:honeycomb:HONEYCOMB_PRESS_MAT][PRODUCT_TO_CONTAINER:liquid container]
[PRODUCT:100:1:GLOB:NONE:GET_MATERIAL_FROM_REAGENT:honeycomb:NONE][PRODUCT_PRESSED]
[SKILL:PRESSING]
Finally, here's how to use a liquid in a rxn, also from the honey rxns:
[REACTION:MAKE_MEAD]
[NAME:make mead]
[BUILDING:STILL:CUSTOM_M]
[REAGENT:honey:150:LIQUID_MISC:NONE:CREATURE_MAT:HONEY_BEE:HONEY]
[UNROTTEN]
[REAGENT:honey container:1:NONE:NONE:NONE:NONE]
[CONTAINS:honey]
[PRESERVE_REAGENT]
[DOES_NOT_DETERMINE_PRODUCT_AMOUNT]
[REAGENT:barrel/pot:1:NONE:NONE:NONE:NONE]
[EMPTY]
[FOOD_STORAGE_CONTAINER] barrel or any non-absorbing tool with FOOD_STORAGE
[PRESERVE_REAGENT]
[DOES_NOT_DETERMINE_PRODUCT_AMOUNT]
[PRODUCT:100:5:DRINK:NONE:GET_MATERIAL_FROM_REAGENT:honey:DRINK_MAT]
[PRODUCT_TO_CONTAINER:barrel/pot]
[PRODUCT_DIMENSION:150]
[SKILL:BREWING]
If you wanted to use a drink as a reagent, you would just have to change LIQUID_MISC in the reagent line to DRINK.
Remember that LIQUID_MISCs and DRINKs are two different things.