Hi, I'm new to Office Live and like what I see so far.  if someone can answer a few questions, I'd appreciate it (let's use Word for the examples).

1. Am I correct that when I open a shared document the version of Word on my computer is opening and interacting with Office Live as a data source?
2. If I am correct in question 1, am I therefore correct to assume that if the user community has various versions of Word, each must save to the "lowest common denominator"?
3. Again assuming that I am correct in question 1 above I take it that running macros within a document and the appropriate security are controlled from my computer, not Office Live?
4. If I want to share a template is there a way that I can, perhaps using Office Live as the location for Workgroup templates?

Thanks for your replies.

John