更 + [adjective] [A] + 比 + [B] + 更 + [adjective]
更 means "even more". It assumes a standard already set and says this one goes past it.
今天更冷 only makes sense if yesterday was already cold. That assumption is what separates 更 from 很.
更 is one of the few things allowed before the adjective in a comparison, and it says both sides are high.
他比我高 says he is taller. 他比我更高 says I am tall and he is taller.
In a comparison both work, and 还 sounds slightly more surprised. 还 also has a range of other meanings; 更 does not.
更 is one step up, 最 is the top.
更不 works, but only where a negative can be graded: 我更不想去.