IPS vs TN is mostly viewing angle nowadays so no,unless you plan to be playing from a 150 degree angle you wont have an issue.
Secondly, yes..This laptop can easily handle WoW at Medium settings as example even high probably, just dont overdo it and expect miracles, might require some custom changes to shadows etc to remain at decent FPS during raids.
Might be able to play wow with it, doubt you will get decent performance in raids as it's a ultra low voltage CPU with boost to 2.7 GHz and a low/entry GPU. If you use low enough settings and don't want 60 fps or more it might work.