I would like to use Drawing Markups & Annotations under the Comment menu and place the markups on one or more Acrobat layers so that my team can turn them off if needed. Is this possible with Adobe Acrobat XI Pro? If so, can these layers be toggled in the Adobe Acrobat Reader?
Drawing markup and annotations don't interact with Acrobat layers at all so that's not a viable workflow.
You should direct your questions about what can be done in Acrobat Pro to this forum: