Well of course he can "fly sectors" and and ILS. What on earth do you imagine a 2ic does, make the tea?
All it means is that he isn't allowed to Captain his own 707, and as it is private and not an airline operation he can wear an Admiral's jacket over pyjama trousers or any other damn thing he wants if he so pleases.
Just makes him looks dreadfully poseurish and a bit insecure, that's all.