Originally Posted by
revi
From what I understood, neither programs nor data (photographs) 'are in the cloud'; both are on your hard disk on your computer (unless you decide otherwise wrt the photographs). The internet connection is only required to verify you have a valid license to use the program (a bit like what Windows is doing already if I understood correctly). So even a complete failure of your internet connection for a short period of time wouldn't hurt in the least. And this also means, that there's no way that Adobe could hold your data hostage by denying you access to your images (wouldn't that fall under illegal access to a computer system under USA law?).
And, afaik, there are already programs that can read PSD (photoshop) files, so the data would stay accessible. You might/will lose some of the photoshop possibilities for further editing, but that's different from losing your data and past edits.