When someone is in a trance, of whatever kind, they are awake and aware of what's going on.
Again, this is not true.
Because a person in a trance is really "awake" and aware of what's going on, they remember everything.
Now they may not be able to immediately retrieve a memory, but it's still there.
People will always reject anything that is contrary to their moral code or values.
When you see someone doing something ridiculous or outrageous while under hypnosis (in a stage show, for example)...that's because they want to do those things.
Again not true.
In a trance, the person remains in control and nothing is revealed unless they want to.
Absolutely not true.
In fact, the smarter someone is, the more likely you'll be able to be hypnotized. This is due to higher levels of creativity.
Again, not true.
In hypnosis, the "worst" thing that might happen is that a person will drift off into normal sleep and wake up some time later as if they have had a good afternoon snooze.