Project Standards Sharing

As and Administrator of many CONNECT Edition Workspace and WorkSet Standards,  we would like to know the location where the Standards get uploaded to when using "Project Standards Sharing" in MS CONNECT. (We have not decided to use this feature yet.) 

Also, is there security on these Shared Standards so not just any user can make changes to the Standards files and then updated/upload these files (like a dgnlib or cell lib) ?  The concern is changes to the client standards would be able to be manipulated by all having access to the Connected Project.

Thanks,