Looks like there are two SPI interfaces, one for the SD card, and another for the TFT.
The SPI interface for TFT has 4 lines (MOSI, SCK, CS, A0)
You will have to connect A0, RESET, SDA, SCK, CS (the non-SD one) to 1-bit ports on the XK-1A.
Connect LED+ to 3.3V and LED- to ground.
Then you can communicate with the display using 8-bit SPI and before every transfer you set A0 to 0 when you send a command and to 1 when you send data. (See the example code, where A0 is named RS (same as D/CX))
Yup you can use 5V when JP1 is open. It will use the regulator to generate 3.3V.
When JP1 is closed, the input and output of the regulator is shorted and you can only use 3.3V.