The cloud drive solution is a distributed file system. This means that the files are always local files, and not connected directly to the server.
This enables users to work offline, and synchronize to the server when they get online Again. Even in online mode the system operates in this way.
So if more than one person is working on a Revit file (.rvt) then the problem arises when more than one person is updating the files at the same time.
Basicly it's last in first out, so it's the last save that "wins", this means that the other, changes goes into history and the users have to figure out how to incorporate the changes into one file.
In Revit there is a feature called "Work Sharing" this enables the Revit project to be divided into sections, for example on a house, the Roof in section1, the first floor in section 2 and the cellar in section 3, all the plumbing in section 4.
It's possible to have different users working on the same drawing but different parts of it.
This would be the correct way of collaborating in Revit.
This is just a small explanation on how to use it, please refer to the Revit manual to get all the details including do's and dont's.
(This feature is testet with the cloud solution and Revit 2015)