We study the effects of anomalous dispersion on the continuous-variable entanglement of EPR states (generated using four-wave mixing in 85Rb) by sending one part of the state through a fast-light medium and measuring the state's quantum mutual information. We observe an advance in the maximum of the quantum mutual information between modes. In contrast, due to uncorrelated noise added by a small phase-insensitive gain, we do not observe any statistically significant advance in the leading edge of the mutual information. We also study the storage and retrieval of multiplexed optical signals in a Gradient Echo Memory (GEM) at relevant four-wave mixing frequencies in 85Rb. Temporal multiplexing capabilities are demonstrated by storing multiple classical images in the memory simultaneously and observing the expected first-in last-out order of recall without obvious cross-talk. We also develop a technique wherein selected portions of an image written into the memory can be spatially targeted for readout and erasure on demand. The effect of diffusion on the quality of the recalled images is characterized. Our results indicate that Raman-based atomic memories may serve as a flexible platform for the storage and retrieval of multiplexed optical signals.