It shouldnt do, I have had mine set up for about 10 months like that and so far so good, the sand will seep through the gaps in the gravel if the grain of gravel is large enough, I used a fine gravel so that has not happened although it would not matter if it did.
As for the laterite thats just what it says on the instructions on the back of the box, it says to put a few inches of gravel on top, it does not mention sand so I presume it requires gravel although you could alays e-mail API and ask them.