Are the IED factories now fixed and actually being created through opcom objectives

Yes, they are spawning just fine now.

If so is there a specific set of circumstances that need to be filled in order for them to start spawning?

For insurgents to build an IED factory in a sector, the objective must be larger than or equal to 200m in size and it must also have a hostility rating of greater than 20 but less than 100.
20 < factory > 100

however i am unsure of whether they start becoming suicide bombers and such when the hostility to the players faction is high, or the insurgents faction? The wiki isn't overly detailed in how each specific mechanic works it seem, so any detailed insight into any of the mechanics in the Asym mode would be greatly appreciated. :)

I believe the hostility works both ways
ie. if civilians are hostile to blufor and a blufor patrol enters a town then hostility raises. If civilians are also hostile to insurgents and they enter the town then hostility increases. I could be wrong here and if so hopefully somebody will correct me on exactly how it works. As for shifting hostility, if insurgents are allowed to carry out too many hostile actions (sabatage, ied's) then the hostility of the sector will increase. If the security forces eliminate nearby insurgents then the hostility will decrease. You can also increase hostility by pissing off the locals by repeatedly asking them questions ;)