Impact absorption has nothing to do with the mass of the helmet. The helmet is designed to break instead of your head. The helemet should also be firmly attached to your head and so won't undergo any relative motion. So its mass doesn't matter.
If Giro can achieve the same level of safety with less material then good luck to them.
In Australia there are standards which must be met and a helmet cannot legally be sold without having been standards approved. So any helmet you buy in Australia meets a minimum saftey standard. I know we couldn't buy Catlike helmets here for a while due to the fact that they were not submitted for testing.
I assume other countries have similar systems.
As to your other question, you are refering to Newtons First law of motion: a moving (or stationary) object will continue moving with constant velocity unless acted upon by an external force.
There is no property that keeps objects in motion (except a lack of forces) and mass has nothing to do with it.
However, in the real world, you hardly ever see a situation where no external forces are acting. A cyclist is acted upon by his own pedalling, air resistance and rolling resistance. This is where newtons second law comes into effect: A body acted upon by an external force will undergo an acceleration proportional to that force. The constant of porportionality is the mass of the body.
A heavier guy will need more pedalling force to accelerate than a lighter guy, but he will therefore also require more breaking force to slow down. If you and your heavier friend decide to coast down from equal speed, your friend will travel further than you becasue he is heavier (and therefore carries more momentum) and the drag forces experienced by each of you are approximately equal.
The extra momentum of a heavier rider may be an advantage in that they would slow down less through the deadspot in the pedalling cycle. Reciprocating engines all have flywheels for the same reason, it stores some energy from the power stroke to carry the machine through the dead strokes smoothly.
Of course it could also be that your friend is just smoother or stronger than you 🙂