Fuji Hakone pass

I plan to purchase Fuji Hakone pass for my ''2 days and one night trip'' to Hakone and Kawaguchigo. I would like to confirm my understanding as follows:-
1. The pass cover
1.1 Train from Shinjuku to Hakone and many transportation in Hakone (for ex. Ship, bus, cable car) same as Hakone free pass.
1.2 Bus from Gotemba to Kawaguchiko (one night stay at Kawaguchiko for better chance to see Mt Fuji in the morning)
1.3 Bus from Kawaguchiko to Shinjuku (which we can reserve 2nd day of the trip). How can I get the bus time table? How many hours that we have to reserve bus in advance before departure?
2. Is the pass cover for transportation from Kawagushiko to Mt Fuji 5th station?
3. In fact, after the Hakone and Kawaguchiko we plan to go to Takayama. So if we purchase Fuji Hakone pass then we have to go back to Tokyo and next day or a few days later go to Takayama via Nagoya (by start using JR Pass).
So if we have an option for reasonable price and not so much time consuming for trip to Hakone - Kawaguchiko - Takayama - Shirakawago then to Kansai Area then we can save a few days of JR pass by start using JR pass after Takayama and Shirakawago trip. Any Idea or suggestion.
Thank you.

Your understanding of the pass' coverage seems correct.

How can I get the bus time table?

Here you go:
http://transportation.fujikyu.co.jp/english/gettinghere/01.html

How many hours that we have to reserve bus in advance before departure?

You can do it just before departure, assuming that there are vacant seats left. Unless you travel on a very busy day, usually there are seats left.

Is the pass cover for transportation from Kawagushiko to Mt Fuji 5th station?

No.

In fact, after the Hakone and Kawaguchiko we plan to go to Takayama.

Indeed, then it would be more effective to directly continue to Takayama. You could go from Kawaguchiko to Matsumoto (by bus and train via Kofu), spend the night in Matsumoto and take the bus to Takayama the next morning. In that case, I would just consider a Hakone Free Pass for Hakone, but regular tickets for everything else all the way to Takayama, and start using the Japan Rail Pass from Takayama (in case it still makes sense from there on).

Can you post your full itinerary including exact dates and which airport(s) you fly in and out of?

If you follow Uji's suggestion and take the train from Kawaguchiko to Matsumoto (via Otsuki) and then bus to Takayama, it may make sense to take the bus from Shirakawago on to Kanazawa before taking the train down to Kyoto. Whether a JR Pass will pay off depends on the rest of your plans and which airport you exit.

Alternatively, if a JR Pass does pay off it may make more sense to do Kawaguchiko first, then move on to Hakone and take the trains from Hakone (Mishima/Odawara) to Takayama and continue on from there.

Anyway, post your itinerary to make it easier!

Enjoy your trip!

Uji-san. Thank you for your always prompt reply.

GC-3 San,
Here is my draft itinerary.
March 29 to Narita
March 30-April 5 (Plan base in Tokyo and travel to Nikko, Kamakura, Yokohama, Sakura spot in Tokyo, other attraction places in Tokyo, of course Hakone and Kawaguchiko as well)
April 6 (JR Pass Day 1) to Nagoya (Accomodation in Nagoya). May be go to see Matsumoto castle and or Nagoya castle and Sakae area. depend on what time that we reach Nagoya.
April 7 Early morning travel from Nagoya to Takayama and Take Bus to shirakawago. Then back to Takayama in the late evening. Acoomodation in Takayama.
April 8 Takayama in the morning. In the after noon start journey to Osaka.
April 9-12 (End of 7 days JR Pass). Go to Fukuoka, Nagasaki, Hiroshima, Miyashima (in order to utilise JR pass)
April 13-14 Base in Osaka and sight seeing in Osaka and near by for ex. Kyoto which can buy 500 yen one day pass for bus, travel to see temple and sakura spot in Kyoto.
April 15-18 Base in Osaka. Buy Kansai Area pass and cover further area such as Himeji (which may be cover during Apr 9-12 if have time), Nara, Kobe, Mt Yoshino, etc and train to KIX (Kansai airport).
Departure from Japan on 18 April.
However, This trip I want to make sure that I can see Mt Fuji at Kawagushiko (which I miss last trip). So, my plan is that I will check the weather forecast of Yamanashi and Fukuoka prefecture (Mt Fuji is located between these 2 prefecture). If weather is good then we will take a train there in the morning and take bus back. So in this case my plan has to be flexible,I cannot fix the date. And for Hakone, I will buy Hakone free pass for other day. This is more flexible but more time consuming and may be more money than purchase Fuji Hakone Pass.
So I want to check other alternatives which may be better than my original idea.
Your suggestion is welcome.
Thanks in advance.

April 7 Early morning travel from Nagoya to Takayama and Take Bus to shirakawago. Then back to Takayama in the late evening. Acoomodation in Takayama.
April 8 Takayama in the morning. In the after noon start journey to Osaka.

I'd possibly recommend spending April 7 in Takayama. In the morning of April 8 take the bus from Takayama to Shirakawago, then take the 13:50 bus from Shirakawago to Kanazawa, see Kenrokuen in the afternoon and then either overnight in Kanazawa or take the direct train from Kanazawa to Osaka.

This makes the buses slightly cheaper, and the travel from Kanazawa to Osaka is both quicker and easier as there is no transfers.

April 9-12 (End of 7 days JR Pass). Go to Fukuoka, Nagasaki, Hiroshima, Miyashima (in order to utilise JR pass)

Seems fast but fine.

April 13-14 Base in Osaka and sight seeing in Osaka and near by

Seems ok but you may wish to modify some of this depending on the timings of the cherry blossoms, ie maybe earlier will be slightly better. Hard to say now.

April 15-18 Base in Osaka. Buy Kansai Area pass and cover further area such as Himeji

I'd skip Himeji due to the scaffolding and see Hikone Castle instead
http://www.japan-guide.com/e/e7001.html
http://www.japan-guide.com/blog/sakura10/100405_hikone.html

However, This trip I want to make sure that I can see Mt Fuji at Kawagushiko (which I miss last trip).

Seems fine if you keep it flexible and day trip.

The other suggestion is to change your trip so you can see the Takayama Spring Festival on April 14-15, although accommodation is usually very difficult.
http://www.japan-guide.com/e/e5909.html

Kanazawa cherry blossoms are also usually a week behind Kyoto
http://www.japan-guide.com/blog/sakura12/120415_kanazawa.html

So it may make more sense to somehow (fly?) to Osaka, spend some time in Kansai, then activate a 7-day JR Pass and do a loop from Osaka to Takayama to Kanazawa to Osaka and then on to Fukuoka, Nagasaki, Hiroshima etc. Or do Fukuoka, Hiroshima first then do the loop with Kanazawa and Takayama.

GC3 San,
Thank you so much. It is very useful suggestion. I will discuss with my friends for itinerary modification.