ID Safe offers "Go Cloud?"

I have Norton 360 thru my subscription to Comcast.  I have been using ID Safe with a local vault - that is all that had been offered.

Just recently a window popped up asking "Do you want to convert your local vault to a cloud vault" and offered two choices:  "No, stay local" or "Yes Convert".  This seems to imply an unmentioned permanence.  If I stay local, will I get another chanced if I change my mind?  If I choose to convert and run into hassles, can I go back?

I have seen some posts here where people talk of having both at once.  Is this possible for me?

Can anybody answer all three questions?

Thanx - DC