The key words are Swift and Next Attack
Swift Actions
In D&D3.5e, you may only perform one swift action per turn, even if it is a mental action. So, you would only be able to activate Dislocator once per turn, at the most.
Next Attack
Multishot and similar abilities and effects produce additional projectiles as additional attacks. When you're firing two arrows, you're really making two attacks. So the one you designate as the "first" attack will be the "next" attack for Dislocator. Even if you could activate it more than once per turn, you'd have to activate it before each attack, meaning it would have to be in-between the arrows produced by Multishot, which isn't possible.
I really liked this question because of the idea of the idea of hitting someone with so many arrows that they poof and appear in the air, but unfortunately, it's not possible with that set up. Alternatively, you could hire four wizards of sufficiently high enough level to simulate the effect in battle.
"Look at what my arrows did!"
The four wizards are high-fiving each other in the background while looking mentally exhausted.
Edit: One thing I neglected to mention is that Dislocator mentions your next "successful" attack. Meaning that if your first three arrows miss and your fourth arrow hits, they would have to make a Will save. Still, you cannot force your opponent to make more than one Will save per turn in this way.
No, they can't be enchanted, because they aren't masterwork and can never be, and all magic weapons must be crafted with a masterwork base.
Creating Magic Weapons
To create a magic weapon, a character needs a heat source and some iron, wood, or leatherworking tools. She also needs a supply of materials, the most obvious being the weapon or the pieces of the weapon to be assembled. Only a masterwork weapon can become a magic weapon, and the masterwork cost is added to the total cost to determine final market value.
It is quite plain that they are not masterwork by default, given the lack of +1 to attack rolls. So let's suppose we want to upgrade them. But it is impossible for an existing unarmed strike to be made masterwork, per this clause in Weapons:
You can’t add the masterwork quality to a weapon after it is created; it must be crafted as a masterwork weapon (see the Craft skill).
All right, let's try making a new one that's masterwork. This fails because unarmed strikes are not manufactured weapons, and you can't manufacture a weapon with the Craft skill if it's specifically not manufactured at all.
Glossary — manufactured weapons:
This category also includes […] in essence, any weapon that is not intrinsic to the creature.
Monk's class features do not help with this, since Craft is not an effect and neither enhances nor improves anything:
A monk’s unarmed strike is treated both as a manufactured weapon and a natural weapon for the purpose of spells and effects that enhance or improve either manufactured weapons or natural weapons.
How about buying one? You might actually be able to buy an ordinary unarmed strike, since they're listed in the Equipment section in the Weapons table, and you needn't pay anything for it*. Unfortunately, per the quote on MW weapons, a weapon must be crafted as masterwork to be MW, and per the preceding this is not possible even for NPCs. There might be an exception, as there seems to be for magic oils, which you can buy in shops but not craft, except that nowhere is "MW unarmed strike" listed for sale.
Magic fang and company do not make a weapon into a "magic weapon"; rather, they give a weapon a +1 enhancement bonus (and the ability to bypass DR /magic because of that), which is not technically the same thing. And while all magic weapons are masterwork by definition as well as by prerequisite, magic fang and friends do not have to be interpreted as giving a weapon retroactive masterwork status, for essentially the same reason, which is fortunate as otherwise the rules would create some bizarre and abusive situations†.
Magic Fang
Magic fang gives one natural weapon of the subject a +1 enhancement bonus on attack and damage rolls.
Magic Weapon
Magic weapon gives a weapon a +1 enhancement bonus on attack and damage rolls. (An enhancement bonus does not stack with a masterwork weapon’s +1 bonus on attack rolls.)
You can’t cast this spell on a natural weapon, such as an unarmed strike (instead, see magic fang). A monk’s unarmed strike is considered a weapon, and thus it can be enhanced by this spell.
Magic Weapons
All magic weapons are also masterwork weapons, but their masterwork bonus on attack rolls does not stack with their enhancement bonus on attack rolls.
Special Abilities
Some monsters are vulnerable to magic weapons. Any weapon with at least a +1 magical enhancement bonus on attack and damage rolls overcomes the damage reduction of these monsters.
Note the phrasing of the last quote; they are described as vulnerable to magic weapons, but that's not the rules text, just the plain description, since vulnerability is not defined (except in the incompatible context of energy vulnerability; it should be clear that DR 5/magic does not mean that a +1 longsword does 50% extra damage as well as overcoming DR). The actual rules say that any weapon with a +1 magical enhancement bonus (whether or not the weapon is, per se, a "magic weapon" itself otherwise) overcomes that DR.
(emphasis added to quotes)
* This is, to my mind, patently absurd, but hey, RAW. Monks won't be proficient with those unarmed strikes, but hey, RAW.
† For example, casting magic weapon to increase the price of a club from 0gp to 300gp (permanently? who knows!) and selling it. Or casting magic weapon on any plain weapon to make it masterwork for future crafting. There is a Pathfinder spell for this purpose. It does nothing else‡, is a level higher, costs as much as crafting a MW weapon in the first place, and takes an hour to cast. Allowing magic weapon to do this for free in a standard action is ridiculous.
‡ It has this excellent provision: "If the target object has no masterwork equivalent, the spell has no effect." Doesn't work on unarmed strikes, as they appear to have no MW equivalent and are not objects.
Best Answer
No, Truesilver does not grant ghost-touch.
First, as quoted in the question, nothing in the description says that it does. It specifically:
If truesilver were meant to include ghost touch, it would almost certainly say so.
Second, the Bone Collector prestige class's 2nd level ability Lesser Bone Weapon lets them:
There would be no need to allow both ghost touch and truesliver if the latter included the former.
Third, from a price analysis, truesilver either counts as a +1 enhancement bonus or adds a flat 1,000 gp to the weapon's price. Adding ghost touch to a weapon also counts as a +1 bonus; especially in the Ghostwalk setting, where ghosts are likely to be significantly more common than the "average" setting, ghost touch is likely to be more valuable than "average". So, there's no way a weapon ability that would effectively be "ghost touch, plus some other things" would be valued at - or below! - the value of just ghost touch.
The augment crystal's pricing is largely due to its flexibility: it can be moved to another weapon trivially, and it can be replaced by another augment crystal trivially. That flexibility - plus being able to affect undead other than ghosts - accounts for its increased price. Nothing in the crystal's description says that ghost touch is required to allow a weapon to deal precision damage; rather, the progression simply implies that dealing precision damage is more valuable than ghost touch - which, especially from a rogue's perspective, is quite plausible.
IME, a typical 5th level rogue will do somewhere around 1d6+2 (average 5.5) weapon damage, and 3d6 (average 10.5) sneak attack damage - nearly 2/3 of their damage comes from sneak attack! On average, not having ghost touch will halve an attack's damage, but losing out on sneak attack with a ghost touch weapon leaves 2/3 of the damage on the table, and that ratio favors sneak attack damage more and more as you gain levels (assuming you keep getting sneak attack dice). As a 5th level rogue, I'd much rather do half of a full attack - 16/2 = 8 - than all of a non-sneak-attack's damage; crank that up to 9, with 1d6+4 (average 7.5) + 5d6 (average 16.5) , and I'll take the 24/2=12 damage over 7.5 any day of the week. YMMV, of course, but my experience with rogues is that an attack without sneak attack is barely worth making.