I have not heard if he received it yet, but if Ronaldindo gets Spanish citizenship, will he still be able to play for the Brazilian NT? I understand the reason he is doing it (so Barcelona has one more non-EU player spot on its roster), but if he gets Spanish citizenship, is he therefore only allowed to play for the Spanish NT?
it is a dual citizenship. he still will play for brasil. example: roberto carlos and ronaldo both have spanish and brasilian citizenship cicinho has italian and brasilian citizenship emerson has german and brasilian citizenship they all still play for the brasil national team.
Once Ronaldinho receives Spanish Citizenship he is allowed to travel freely within the EU and would be able to work within it anywhere in the World correct?
Anywhere in the EU, yes. Not anywhere in the world. There are some restrictions in place in the EU about movement and working but they mostly relate to people from new member states in the east going to work in some western states. It won't apply to Ronaldinho. But maybe there's something about dual nationality that changes things... though I doubt it.