For attacking mode its very very important to play whole pitch with hard tackling.
Every Manager must find his own way to play 4-5-1V. Like Cody said experiment a little bit in friendlys to find out what is the best for your team. Everybody has his own style and interpretation of this formation. Its all about your players. Their skills. It is a great formation. Try to find your own way and take a look at the ratings. Some ml/aml play better in ml. The other in aml. Thats what we mean try out and look what is the best.
With this formation you can definitly beat 4-4-2 C. This season i faced two higher level teams in cup. And i had won all matches against 4-4-2 C so far.
You can also go or sub to 4-3n-2w-1 and give a red arrow to the middle mc. This works well for me too.