Versioning automatically records the history of a document as you create and make changes to it. OS X Lion automatically creates a new version of a document each time you open it and every hour while you're working on it. You can also create snapshots of a document whenever you like. With an interface similar to that of Time Machine, Versions shows you the current document next to a cascade of previous versions, allowing you to do side-by-side comparisons of your working document with past versions. You can restore entire past versions, or bring elements from past versions such as pictures or text into your working document.
To our regret OBC Filecloud does not support versioning on Mac OS X due to following reason:
Versions stores the document versions in a hidden (.DocumentRevisions-V100) directory at the root level of the disk containing the document. Lion however isn't capable of creating that directory on a non-HFS+ volume (Hierarchical File System). So, when working with documents stored on either a network volume or a volume that's not formatted as HFS+, Versions simply doesn't work.