Yes, we love to sit and enjoy the view and people watch also. The deluxe rooms balconies do have room to sit. Our deluxe rooms have always been on the third floor with two chairs and a little table. There are also deluxe rooms on the fourth floor (where the lounge is). I believe these are a bit smaller, but they still have at least one chair and a table. (Someone else will probably pop in with more details.
As to the food offerings - we were there Dec. 14 - Dec. 23 and this is what we had, along with the times. Note that the times and what the offering is called (i.e. Cordials and Desserts) is from the info that we received - I just copied it. The actual items that were served is from memory, so I might have forgotten something.
Coffee 6:30 am - 7:00 am (coffee machine is available at any time the lounge is open)
Continental breakfast 7:00 am - 10:30 am (four types of dry cereal, oatmeal, fruit - bananas, strawberries, watermelon, cantaloupe and honeydew, toast, bagels, pastry, milk, juice)
Refreshments 11:30 am - 4:00 pm (cookies, bowls of gummies, assorted nuts and "fish" crackers, individual bags of chips and popcorn, soda)
Wine and Cheese Selections 5:00 pm - 7:00 pm (various types of cheese, crackers, bread, pita, veggies, dips, uncrustables, wine, beer, soda and two hot items - things like buffalo wings, soup, pasta, mussels - each night there were two items; I think they were things from restaurants on the Boardwalk)
Cordials and Desserts 8:00 pm - 10:00 pm (cordials (obviously

) and mini desserts - very rich little things like mini eclairs, chocolate-covered strawberries, mini cakes, etc. - a lot of "death by chocolate" types of things)
Enjoy!