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What if I decide to change my phone would the seed be just enough to recover the coins to the new phone? So its like a multisig wallet where I store my own word phrases as private key and can be restored in any phone?

All you need to recover your coins with Coinomi to any other device is your seed phrase.

What about the address. I have like 5 ENS already which I want to hold thats there in metamask. Can I transfer them to the coinomi address and keep them forever. It looks like address is not changing like in coinbase. Can I also use the same eth address for multiple erc20 tokens down the line like myetherwallet does? If I create a new address by mistake am I screwed forever?

Coinomi gives you the option to automatically change your receiving address with every transaction, or keep the same for as long as you wish. In both cases, all addresses generated by the wallet are valid forever.