How Does AVAIL Upgrade Content?

Does AVAIL upgrade content on the fly when a more current project accesses it, or does it take standard upgrading time to the end user?

AVAIL does not touch or alter your content.  Users can do an in-session upgrade where the file is copied, upgraded to the desired version, and then saved as a temporary file on the user's machine.  Up to 5 temporary files are saved before starting to overwrite.  Many customers do bulk updates and create a new channel, but it depends on your environment.