Launch function?

Just wondering what the "Launch" is used for?

Can it launch the file in an external program Eg Launch MS Word for a word doc that is attached to the database?

Also wondering, if the above is the case ie, launch MS Word for a word doc, if changes are made to the word doc, will they be saved into the DEVONThink database?

I have been trying to get it working with JPEGS with no luck, the system just beeps at me?    

Yes, "Launch" is used to open the file connected via the URL property in the preferred application for this type. This has no effect for contents stored only internally in the knowledge base (beep). So, you can view/edit the original file, but not modify the content in the database. The Standard Editor will feature better functionality to store, view and edit Microsoft Office files.