Yes, We are allowed!!!
Well, as you arrived Paris last month, that clearly says your OFII is remaining, But you can travel within three months of your arrival to schengen area, without OFII. To be on safer side avoid air travel.
It's part of checklist!!!
Yes, being a student in france and for VISA renewal you must have insurance certificate, if you don't have ask you school to provide one. It's already mentioned in checklist for documents necessary for your VISA renewal.
Indian student can travel with recepisse..!!!
Yes, You can travel to India with your recepisse. It's always recommended to book direct flight to India on recepissee, sometimes I have seen problem with other countries via connecting flights. Coming from my experience, I have travelled twice on recepisse, Direct to New Delhi and Via Dubai, without any problem.