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this is a 2 part question. firstly can caught monsters only be released on TA or is it possible to release them on Lark. secondly does improving your monstalogy lvl make it easier to catch other monsters or it based on your lvl compared to the monsters lvl.                             
1: No, TA is not the only place to release creeps. Any island is (or will be) populatable, except for the homeland, Larkinor. It would get a bit easy if it were possible to repop monsters on the same island you catch them. Consequently: no monsters can be captured on the other islands.

2: Both influence your catch-rate. Monstalogy plays the prime role, but it to a small extent, your level affects your success-rate. 

...However, at a high monsta-skill, you will already have an extreme catch-rate, level will mean little. Plus, if you have a char with high IQ/DEX/LUCK stats(generally, a semi-char), a capture will also be made more easy. This factor, however is dependant on how close these stats are compared to each other besides their actual number, so a pure fighter or mage will not recieve any bonus of substantial magnitude. A lucky mage or fighter...or a semi combateer will have a much more decent benefit-while with some application of luck as well(e.g. a first-generation messup), you've got an ultimate bonus. 
Yay for Little Boo (first generation mess up)!  LOL