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Jim Lacey
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Meaning of MacOS [Sierra 10.12.3] 'Cloud Symbol' with down-pointing arrow

Some Files, in Finder,  located in iCloud [as shown in CMD-I Info output] have 'Cloud Symbol' with down-pointing arrow to right of file/folder name. Opening file deletes 'Cloud Symbol' - this does not change CMD-I Info output] status, that is file/folder still in iCloud.

What does this  'Cloud Symbol' with down-pointing arrow mean, and why does it disappear?

To add to my confusion, opening the file returns 'Modifications aren't in sync. Choose which versions to keep' and lists 3 versions all with same name/location and date/time.

What's going on? I do understand that some folders have been moved to iCloud, e.g. local 'Documents' - what is the meaning of above?
Mac OS X

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Jim Lacey

8/22/2022 - Mon
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Eoin OSullivan

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Jim Lacey

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Thanks for your helpful and detailed response!
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