I have the CC version on my mac. The app is still installed to your machine as normal, just the subscriptions are managed in the cloud. Your work isnt saved in the cloud somewhere or anything, it just like normal PS.
Q. Are ?Creative Cloud? applications Web-based applications, or are they on my computer like regular applications?
A. They are NOT Web-based apps. The programs work just like they always did, right on your computer, but instead of installing them from a CD or DVD disc (like the ?old days?), you download any ones you want from Adobe?s Creative Cloud site. If you?re a Mac user and have used the Mac App store to download software, it?s pretty much like that. Personally, I think the name, ?Creative Cloud? makes it sound ?Cloud-based? when it?s really not, but I guess calling it ?Creative Download? wasn?t a great name either.